Energy Transfer LP $ET Shares Bought by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. raised its stake in Energy Transfer LP (NYSE:ET) by 79.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,354 shares of the pipeline company’s stock after acquiring an additional 40,929 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Energy Transfer were worth $1,657,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Invesco Ltd. increased its stake in Energy Transfer by 3.2% in the third quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock valued at $992,923,000 after purchasing an additional 1,773,042 shares during the last quarter. Energy Income Partners LLC increased its stake in Energy Transfer by 1.4% in the third quarter. Energy Income Partners LLC now owns 23,351,183 shares of the pipeline company’s stock valued at $400,706,000 after purchasing an additional 326,653 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Energy Transfer by 2.6% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company’s stock valued at $375,777,000 after purchasing an additional 544,944 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Energy Transfer in the third quarter valued at $264,309,000. Finally, Clearbridge Investments LLC increased its stake in Energy Transfer by 3.0% in the fourth quarter. Clearbridge Investments LLC now owns 13,014,994 shares of the pipeline company’s stock valued at $214,617,000 after purchasing an additional 374,000 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Price Performance

ET stock opened at $19.04 on Thursday. The stock has a 50-day moving average price of $19.45 and a two-hundred day moving average price of $18.32. 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. The company has a market cap of $65.51 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.10 and a beta of 0.55.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results 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). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The firm had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. During the same period last year, the firm posted $0.36 EPS. Energy Transfer’s revenue was up 32.1% on a year-over-year basis. As a group, research analysts predict that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on ET. Truist Financial began coverage on Energy Transfer in a research note on Tuesday, March 24th. They issued a “buy” rating and a $23.00 target price for the company. Morgan Stanley upped their target price 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. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Jefferies Financial Group upgraded Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Tuesday, May 26th. Finally, Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $23.45.

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.