Tectonic Advisors LLC Raises Stock Holdings in Energy Transfer LP $ET

Tectonic Advisors LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 726,693 shares of the pipeline company’s stock after purchasing an additional 55,624 shares during the quarter. Tectonic Advisors LLC’s holdings in Energy Transfer were worth $11,983,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ET. Financial Life Planners purchased a new stake in shares of Energy Transfer during the 3rd quarter worth $34,000. Core Alternative Capital purchased a new stake in Energy Transfer in the third quarter valued at about $46,000. Global Wealth Strategies & Associates raised its stake in Energy Transfer by 196.4% in the fourth quarter. Global Wealth Strategies & Associates now owns 2,964 shares of the pipeline company’s stock valued at $49,000 after buying an additional 1,964 shares during the last quarter. FSC Wealth Advisors LLC purchased a new stake in Energy Transfer in the second quarter valued at about $50,000. Finally, Golden State Wealth Management LLC raised its stake in Energy Transfer by 38.9% in the third quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock valued at $50,000 after buying an additional 817 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Jefferies Financial Group reiterated a “hold” rating on shares of Energy Transfer in a research note on Wednesday, February 18th. TD Cowen increased their price target on Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Finally, Wells Fargo & Company increased their price target on Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.60.

Energy Transfer Stock Up 0.1%

Shares of ET stock opened at $19.21 on Monday. The stock’s 50-day simple moving average is $18.79 and its 200-day simple moving average is $17.53. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. The firm has a market capitalization of $66.07 billion, a PE ratio of 15.87, a P/E/G ratio of 1.07 and a beta of 0.62. Energy Transfer LP has a fifty-two week low of $15.41 and a fifty-two week high of $19.85.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.09). The firm had revenue of $25.32 billion during the quarter, compared to analyst estimates of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. Equities analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 7.0%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, February 6th. Energy Transfer’s dividend payout ratio is 110.74%.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.