125,000 Shares in Energy Transfer LP $ET Acquired by Broderick Brian C

Broderick Brian C acquired a new stake in shares of Energy Transfer LP (NYSE:ET) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 125,000 shares of the pipeline company’s stock, valued at approximately $2,412,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ET. Morgan Stanley boosted its stake in shares of Energy Transfer by 41.6% during the 4th quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock valued at $1,423,256,000 after buying an additional 25,366,594 shares during the period. Alps Advisors Inc. grew its holdings in shares of Energy Transfer by 8.0% during the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock valued at $1,382,573,000 after acquiring an additional 6,192,066 shares in the last quarter. Invesco Ltd. increased its stake in shares of Energy Transfer by 3.2% in the third quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock worth $992,923,000 after acquiring an additional 1,773,042 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in shares of Energy Transfer by 0.3% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 38,675,828 shares of the pipeline company’s stock worth $637,764,000 after acquiring an additional 103,245 shares during the last quarter. Finally, Energy Income Partners LLC raised its holdings in shares of Energy Transfer by 1.4% during the third quarter. Energy Income Partners LLC now owns 23,351,183 shares of the pipeline company’s stock worth $400,706,000 after acquiring an additional 326,653 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.1%

Energy Transfer stock opened at $20.30 on Monday. 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 LP has a 1-year low of $16.18 and a 1-year high of $20.70. The firm’s fifty day simple moving average is $19.52 and its 200-day simple moving average is $18.86. The company has a market capitalization of $69.87 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.18 and a beta of 0.55.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) 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 the consensus estimate of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The company’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 earnings per share. 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 business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given 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 6.6%. The ex-dividend date of this dividend was Friday, May 8th. Energy Transfer’s payout ratio is presently 112.50%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Cowen reissued a “buy” rating and set a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research report on Thursday. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Zacks Research upgraded Energy Transfer from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Stifel Nicolaus lifted their price target on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, Energy Transfer presently has an average rating of “Buy” and a consensus price target of $23.55.

Energy Transfer 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.