First Trust Advisors LP Has $15.73 Million Position in Energy Transfer LP $ET

First Trust Advisors LP boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 26.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 815,302 shares of the pipeline company’s stock after purchasing an additional 172,852 shares during the period. First Trust Advisors LP’s holdings in Energy Transfer were worth $15,735,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley grew its position in Energy Transfer by 41.6% in the fourth quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock worth $1,423,256,000 after acquiring an additional 25,366,594 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of Energy Transfer by 8.0% during the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock valued at $1,382,573,000 after purchasing an additional 6,192,066 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Energy Transfer by 3.2% during the 3rd 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 in the last quarter. Jump Financial LLC lifted its stake in shares of Energy Transfer by 128.0% in the 4th quarter. Jump Financial LLC now owns 2,585,439 shares of the pipeline company’s stock valued at $42,634,000 after purchasing an additional 1,451,613 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its stake in shares of Energy Transfer by 223.7% in the 2nd quarter. Corient Private Wealth LLC now owns 1,690,769 shares of the pipeline company’s stock valued at $30,654,000 after purchasing an additional 1,168,438 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ET has been the topic of several analyst reports. Zacks Research raised shares of Energy Transfer from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Stifel Nicolaus boosted their price target on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Jefferies Financial Group upgraded Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Tuesday, May 26th. Morgan Stanley increased their price objective on Energy Transfer from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. Finally, TD Cowen reissued a “buy” rating and set a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a report on Thursday, July 16th. Three equities 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $23.50.

Energy Transfer Price Performance

NYSE ET opened at $20.23 on Thursday. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $20.70. The company has a fifty day simple moving average of $19.54 and a 200 day simple moving average of $19.07. 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 $69.60 billion, a P/E ratio of 16.85, a P/E/G ratio of 1.16 and a beta of 0.55.

Energy Transfer (NYSE:ET) last announced its earnings results 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 firm 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS. On average, sell-side analysts predict that Energy Transfer LP will post 1.44 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be paid a $0.34 dividend. The ex-dividend date is Friday, August 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.7%. Energy Transfer’s dividend payout ratio is presently 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.