Sanctuary Advisors LLC Increases Stock Holdings in Energy Transfer LP $ET

Sanctuary Advisors LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 15.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,888,661 shares of the pipeline company’s stock after buying an additional 257,954 shares during the quarter. Sanctuary Advisors LLC owned 0.05% of Energy Transfer worth $36,451,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ET. Basepoint Wealth LLC purchased a new stake in shares of Energy Transfer in the fourth quarter valued at about $25,000. Gables Capital Management Inc. lifted its position in shares of Energy Transfer by 60.0% during the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 600 shares in the last quarter. Sarver Vrooman Wealth Advisors purchased a new position in Energy Transfer during the fourth quarter worth about $32,000. Navalign LLC purchased a new position in Energy Transfer during the fourth quarter worth about $37,000. Finally, Vermillion Wealth Management Inc. grew its position in Energy Transfer by 69.5% in the 4th quarter. Vermillion Wealth Management Inc. now owns 2,351 shares of the pipeline company’s stock worth $39,000 after purchasing an additional 964 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ET shares. Morgan Stanley increased their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 27th. Barclays restated an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Finally, TD Cowen reiterated a “buy” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a report on Wednesday, May 13th. Three 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 stock. According to MarketBeat.com, Energy Transfer presently has an average rating of “Buy” and an average price target of $23.45.

Energy Transfer Stock Performance

NYSE ET opened at $20.07 on Wednesday. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $20.70. The company has a 50-day simple moving average of $19.49 and a 200 day simple moving average of $18.78. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The company has a market capitalization of $69.08 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 1.17 and a beta of 0.55.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). The company had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business’s revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. On average, research analysts predict that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a $0.3375 dividend. 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. 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%.

About Energy Transfer

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.