Leo Wealth LLC Makes New Investment in Energy Transfer LP $ET

Leo Wealth LLC acquired a new stake in shares of Energy Transfer LP (NYSE:ET) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 41,142 shares of the pipeline company’s stock, valued at approximately $678,000.

Several other large investors have also made changes to their positions in ET. Lee Financial Co boosted its stake in shares of Energy Transfer by 359.7% during the 3rd quarter. Lee Financial Co now owns 193,817 shares of the pipeline company’s stock worth $3,326,000 after acquiring an additional 151,657 shares in the last quarter. Eagle Global Advisors LLC boosted its holdings in shares of Energy Transfer by 6.0% during the 3rd quarter. Eagle Global Advisors LLC now owns 6,466,059 shares of the pipeline company’s stock worth $110,958,000 after buying an additional 363,623 shares during the period. Corient Private Wealth LLC boosted its holdings in Energy Transfer by 223.7% during the second quarter. Corient Private Wealth LLC now owns 1,690,771 shares of the pipeline company’s stock valued at $30,654,000 after acquiring an additional 1,168,440 shares during the period. Maryland State Retirement & Pension System boosted its holdings in Energy Transfer by 5.2% during the third quarter. Maryland State Retirement & Pension System now owns 2,927,436 shares of the pipeline company’s stock valued at $50,235,000 after acquiring an additional 144,037 shares during the period. Finally, Fidelis Capital Partners LLC boosted its holdings in Energy Transfer by 150.2% during the third quarter. Fidelis Capital Partners LLC now owns 105,003 shares of the pipeline company’s stock valued at $1,802,000 after acquiring an additional 63,043 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.3%

Shares of NYSE ET opened at $18.99 on Tuesday. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $19.85. The company has a market cap of $65.32 billion, a PE ratio of 15.69, a P/E/G ratio of 1.06 and a beta of 0.62. The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50. The company has a 50-day moving average of $18.72 and a two-hundred day moving average of $17.48.

Energy Transfer (NYSE:ET) last released its quarterly earnings data 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 net margin of 5.11% and a return on equity of 10.17%. The company had revenue of $25.32 billion during the quarter, compared to the consensus estimate of $23.56 billion. During the same quarter in the prior year, the company posted $0.29 EPS. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, equities analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were given a $0.335 dividend. The ex-dividend date was Friday, February 6th. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.1%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is currently 110.74%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ET shares. Wells Fargo & Company upped their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, March 13th. Truist Financial assumed coverage on shares of Energy Transfer in a report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price target for the company. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Wednesday, January 7th. TD Cowen increased their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Finally, Morgan Stanley increased their price target on shares of Energy Transfer from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.60.

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.