Energy Transfer LP $ET Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its position in shares of Energy Transfer LP (NYSE:ET) by 97.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,321 shares of the pipeline company’s stock after buying an additional 27,815 shares during the quarter. Bleakley Financial Group LLC’s holdings in Energy Transfer were worth $1,087,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Keybank National Association OH increased its position in shares of Energy Transfer by 0.3% in the first quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock worth $4,231,000 after acquiring an additional 556 shares in the last quarter. Mountain Capital Investment Advisors Inc. grew its holdings in Energy Transfer by 4.9% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock worth $216,000 after buying an additional 560 shares in the last quarter. Marks Wealth LLC lifted its position in Energy Transfer by 4.7% in the fourth quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock worth $207,000 after purchasing an additional 560 shares during the period. Citizens Financial Group Inc. RI boosted its stake in Energy Transfer by 2.4% during the 1st quarter. Citizens Financial Group Inc. RI now owns 23,978 shares of the pipeline company’s stock valued at $463,000 after purchasing an additional 562 shares in the last quarter. Finally, Avos Capital Management LLC boosted its stake in Energy Transfer by 0.8% during the 4th quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock valued at $1,265,000 after purchasing an additional 583 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ET shares. JPMorgan Chase & Co. lifted their target price on Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Morgan Stanley raised their target price on Energy Transfer from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. Barclays reissued an “overweight” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 14th. Stifel Nicolaus raised their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $23.55.

Energy Transfer Trading Up 0.5%

NYSE:ET opened at $20.30 on Friday. The firm has a market capitalization of $69.87 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.17 and a beta of 0.55. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $20.70. The business’s 50-day moving average price is $19.52 and its two-hundred day moving average price is $18.84. 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 posted its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. During the same quarter last year, the business posted $0.36 earnings per share. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, equities analysts expect that Energy Transfer LP will post 1.43 earnings per share for the current 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 dividend of $0.3375 per share. The ex-dividend date was Friday, May 8th. This is a boost 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 6.6%. Energy Transfer’s dividend payout ratio is 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.