CMC Financial Group Makes New $579,000 Investment in Energy Transfer LP $ET

CMC Financial Group acquired a new stake in Energy Transfer LP (NYSE:ET) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 30,000 shares of the pipeline company’s stock, valued at approximately $579,000. Energy Transfer makes up about 1.1% of CMC Financial Group’s portfolio, making the stock its 25th largest holding.

A number of other institutional investors have also recently modified their holdings of ET. Texas Yale Capital Corp. grew its stake in Energy Transfer by 6.1% during the fourth quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock worth $21,634,000 after buying an additional 75,700 shares in the last quarter. North Star Investment Management Corp. increased its holdings in Energy Transfer by 100.1% in the 4th quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company’s stock valued at $2,664,000 after buying an additional 80,786 shares during the period. Summit Securities Group LLC raised its position in shares of Energy Transfer by 179.0% in the 1st quarter. Summit Securities Group LLC now owns 162,100 shares of the pipeline company’s stock valued at $3,129,000 after buying an additional 104,000 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of Energy Transfer by 9.1% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 1,560,110 shares of the pipeline company’s stock valued at $25,726,000 after buying an additional 129,489 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its holdings in shares of Energy Transfer by 8.3% during the 4th quarter. Tectonic Advisors LLC now owns 726,693 shares of the pipeline company’s stock worth $11,983,000 after acquiring an additional 55,624 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on ET shares. Stifel Nicolaus increased their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research report on Friday, June 5th. Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a report on Tuesday. Finally, Morgan Stanley lifted their price target on Energy Transfer from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Buy” and a consensus target price of $23.50.

Energy Transfer Trading Down 0.1%

ET opened at $20.25 on Wednesday. The company has a market cap of $69.70 billion, a P/E ratio of 16.88, a PEG ratio of 1.17 and a beta of 0.55. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The company’s 50 day moving average is $19.53 and its 200-day moving average is $18.91. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $20.70.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The company had revenue of $27.77 billion for the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.Energy Transfer’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 earnings per share. Equities research analysts predict that Energy Transfer LP will post 1.43 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a dividend of $0.3375 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.7%. Energy Transfer’s payout ratio is presently 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.