CoreCap Advisors LLC Acquires 55,062 Shares of Energy Transfer LP $ET

CoreCap Advisors LLC increased its stake in shares of Energy Transfer LP (NYSE:ETFree Report) by 23.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 293,240 shares of the pipeline company’s stock after acquiring an additional 55,062 shares during the quarter. CoreCap Advisors LLC’s holdings in Energy Transfer were worth $4,836,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Alps Advisors Inc. grew its holdings in shares of Energy Transfer by 4.5% in the third quarter. Alps Advisors Inc. now owns 77,651,021 shares of the pipeline company’s stock valued at $1,332,492,000 after acquiring an additional 3,366,734 shares in the last quarter. Invesco Ltd. grew its stake in Energy Transfer by 3.2% in 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 during the period. Energy Income Partners LLC increased its position in shares of Energy Transfer by 1.4% during the 3rd 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. boosted its holdings in shares of Energy Transfer by 2.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company’s stock worth $375,777,000 after buying an additional 544,944 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of Energy Transfer in the 3rd quarter worth approximately $264,309,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Energy Transfer

Here are the key news stories impacting Energy Transfer this week:

Analysts Set New Price Targets

ET has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. TD Cowen increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Barclays reiterated an “overweight” rating and issued a $22.00 target price (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. Truist Financial started coverage on shares of Energy Transfer in a research report on Tuesday. They issued a “buy” rating and a $23.00 price target on the stock. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.60.

View Our Latest Report on Energy Transfer

Energy Transfer Trading Up 1.1%

Shares of ET opened at $19.66 on Friday. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $19.82. The company has a market capitalization of $67.62 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.09 and a beta of 0.63. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.22 and a quick ratio of 0.90. The firm’s 50 day simple moving average is $18.55 and its 200 day simple moving average is $17.41.

Energy Transfer (NYSE:ETGet Free Report) last released its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.09). Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The company had revenue of $25.32 billion during the quarter, compared to analysts’ expectations of $23.56 billion. During the same period in the prior year, the firm earned $0.29 EPS. Energy Transfer’s quarterly revenue was up 29.6% on a year-over-year basis. Sell-side analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were paid a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a yield of 6.8%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, February 6th. Energy Transfer’s dividend payout ratio is presently 110.74%.

Energy Transfer Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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