Apella Capital LLC Invests $1.41 Million in Energy Transfer LP $ET

Apella Capital LLC purchased a new position in shares of Energy Transfer LP (NYSE:ET) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 74,839 shares of the pipeline company’s stock, valued at approximately $1,411,000.

A number of other hedge funds have also recently modified their holdings of ET. Texas Yale Capital Corp. boosted its stake in Energy Transfer by 6.1% during the fourth quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock valued at $21,634,000 after buying an additional 75,700 shares during the last quarter. North Star Investment Management Corp. lifted its holdings in Energy Transfer by 100.1% during the 4th quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company’s stock valued at $2,664,000 after buying an additional 80,786 shares in the last quarter. Avior Wealth Management LLC grew its stake in Energy Transfer by 436.6% in the 4th quarter. Avior Wealth Management LLC now owns 90,160 shares of the pipeline company’s stock worth $1,487,000 after acquiring an additional 73,359 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Energy Transfer by 2.6% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company’s stock valued at $375,777,000 after purchasing an additional 544,944 shares during the period. Finally, U.S. Capital Wealth Advisors LLC boosted its holdings in shares of Energy Transfer by 9.1% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 1,560,110 shares of the pipeline company’s stock valued at $25,726,000 after purchasing an additional 129,489 shares during the period. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ET shares. Citigroup reiterated a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. Wells Fargo & Company lifted their price objective 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. Raymond James Financial reissued a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. TD Cowen restated a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. boosted their price target on Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Energy Transfer has a consensus rating of “Buy” and a consensus target price of $23.45.

Energy Transfer Stock Performance

NYSE:ET opened at $19.16 on Friday. The company has a market cap of $65.95 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.11 and a beta of 0.55. Energy Transfer LP has a twelve month low of $16.18 and a twelve month high of $20.70. The company’s 50-day moving average price is $19.44 and its 200-day moving average price is $18.50. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last released 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 company had revenue of $27.77 billion for the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period last year, the firm posted $0.36 EPS. On average, sell-side analysts forecast that Energy Transfer LP will post 1.43 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company 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 is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date of this dividend was Friday, May 8th. Energy Transfer’s payout ratio is currently 112.50%.

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.