41,581 Shares in Energy Transfer LP $ET Bought by Kathmere Capital Management LLC

Kathmere Capital Management LLC bought a new stake in shares of Energy Transfer LP (NYSE:ET) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 41,581 shares of the pipeline company’s stock, valued at approximately $803,000.

Several other institutional investors have also added to or reduced their stakes in ET. Keybank National Association OH boosted its stake in Energy Transfer by 0.3% in the 1st quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock worth $4,231,000 after purchasing an additional 556 shares in the last quarter. Mountain Capital Investment Advisors Inc. raised its holdings in shares of Energy Transfer by 4.9% in the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock worth $216,000 after buying an additional 560 shares during the last quarter. Marks Wealth LLC lifted its stake in shares of Energy Transfer by 4.7% during the fourth quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock worth $207,000 after buying an additional 560 shares during the period. Avos Capital Management LLC lifted its stake in shares of Energy Transfer by 0.8% during the fourth quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock worth $1,265,000 after buying an additional 583 shares during the period. Finally, Platform Technology Partners grew its holdings in shares of Energy Transfer by 0.9% during the first quarter. Platform Technology Partners now owns 69,115 shares of the pipeline company’s stock valued at $1,334,000 after buying an additional 586 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Barclays restated an “overweight” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. Morgan Stanley upped their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. Jefferies Financial Group raised Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Tuesday, May 26th. Citigroup reaffirmed a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research report on Friday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Energy Transfer currently has a consensus rating of “Buy” and a consensus price target of $23.45.

Energy Transfer Stock Performance

ET traded up $0.47 on Tuesday, reaching $19.71. The stock had a trading volume of 2,633,046 shares, compared to its average volume of 14,271,476. The business’s 50-day moving average price is $19.46 and its two-hundred day moving average price is $18.61. The company has a market cap of $67.84 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 1.12 and a beta of 0.55. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $20.70. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. During the same period in the previous year, the company earned $0.36 earnings per share. The company’s revenue was up 32.1% compared to the same quarter last year. Sell-side analysts forecast that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is currently 112.50%.

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.