NFC Investments LLC Has $7.77 Million Stock Position in Energy Transfer LP $ET

NFC Investments LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 471,236 shares of the pipeline company’s stock after buying an additional 29,297 shares during the period. Energy Transfer accounts for approximately 2.2% of NFC Investments LLC’s holdings, making the stock its 16th biggest holding. NFC Investments LLC’s holdings in Energy Transfer were worth $7,771,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ET. Brighton Jones LLC lifted its position in Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after buying an additional 11,844 shares in the last quarter. AQR Capital Management LLC lifted its position in Energy Transfer by 62.8% during the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock valued at $391,000 after purchasing an additional 8,118 shares during the period. Geode Capital Management LLC lifted its position in Energy Transfer by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock valued at $2,455,000 after purchasing an additional 7,901 shares during the period. Russell Investments Group Ltd. lifted its position in Energy Transfer by 436.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock valued at $76,000 after purchasing an additional 3,400 shares during the period. Finally, Guggenheim Capital LLC lifted its position in Energy Transfer by 5.6% during the 2nd quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock valued at $923,000 after purchasing an additional 2,700 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on ET shares. Truist Financial started coverage on shares of Energy Transfer in a research report on Tuesday, March 24th. They set a “buy” rating and a $23.00 target price on the stock. TD Cowen restated a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research report on Wednesday, May 13th. Scotiabank restated an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Jefferies Financial Group upgraded shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Tuesday, May 26th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Buy” and a consensus price target of $23.45.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $19.04 on Thursday. The company has a market capitalization of $65.51 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 1.10 and a beta of 0.55. The firm’s 50 day simple moving average is $19.45 and its 200 day simple moving average is $18.32. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $20.70.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The firm had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.36 earnings per share. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a $0.3375 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 7.1%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is 112.50%.

Energy Transfer 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.