Black Swift Group LLC Decreases Stake in Energy Transfer LP $ET

Black Swift Group LLC reduced its holdings in Energy Transfer LP (NYSE:ET) by 61.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,000 shares of the pipeline company’s stock after selling 47,950 shares during the period. Black Swift Group LLC’s holdings in Energy Transfer were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ET. Brighton Jones LLC raised its stake in Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after purchasing an additional 11,844 shares during the period. AQR Capital Management LLC raised its stake in Energy Transfer by 62.8% during the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock worth $391,000 after purchasing an additional 8,118 shares during the period. Geode Capital Management LLC raised its stake in Energy Transfer by 6.2% during the second quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock worth $2,455,000 after purchasing an additional 7,901 shares during the period. Russell Investments Group Ltd. raised its stake in Energy Transfer by 436.5% during the second quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock worth $76,000 after purchasing an additional 3,400 shares during the period. Finally, Guggenheim Capital LLC raised its stake in Energy Transfer by 5.6% during the second quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock worth $923,000 after purchasing an additional 2,700 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of ET opened at $19.16 on Monday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The stock has a market cap of $65.93 billion, a PE ratio of 15.97, a P/E/G ratio of 1.12 and a beta of 0.55. The firm has a 50-day simple moving average of $19.43 and a two-hundred day simple moving average of $18.17. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $20.70.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The business had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. As a group, analysts forecast that Energy Transfer LP will post 1.41 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a $0.3375 dividend. This represents a $1.35 dividend on an annualized basis and a dividend yield of 7.0%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 112.50%.

Analysts Set New Price Targets

A number of brokerages have commented on ET. Truist Financial began coverage on shares of Energy Transfer in a research note on Tuesday, March 24th. They set a “buy” rating and a $23.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, March 13th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. 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 research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average 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.