AlTi Global Inc. Takes Position in Energy Transfer LP $ET

AlTi Global Inc. acquired a new position in shares of Energy Transfer LP (NYSE:ET) in the 1st quarter, Holdings Channel.com reports. The fund acquired 65,458 shares of the pipeline company’s stock, valued at approximately $1,263,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Broderick Brian C acquired a new stake in Energy Transfer in the 1st quarter valued at approximately $2,412,000. World Equity Group Inc. grew its stake in shares of Energy Transfer by 113.8% during the 1st quarter. World Equity Group Inc. now owns 22,622 shares of the pipeline company’s stock worth $437,000 after acquiring an additional 12,042 shares in the last quarter. Crescent Grove Advisors LLC raised its holdings in shares of Energy Transfer by 8.1% in the first quarter. Crescent Grove Advisors LLC now owns 216,186 shares of the pipeline company’s stock valued at $4,172,000 after purchasing an additional 16,193 shares during the last quarter. Laidlaw Wealth Management LLC raised its holdings in shares of Energy Transfer by 28.8% in the first quarter. Laidlaw Wealth Management LLC now owns 26,830 shares of the pipeline company’s stock valued at $518,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Energy Transfer by 4.6% in the first quarter. Jennison Associates LLC now owns 1,584,039 shares of the pipeline company’s stock worth $30,572,000 after purchasing an additional 69,327 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Price Performance

NYSE:ET opened at $20.28 on Tuesday. The stock has a market capitalization of $69.77 billion, a PE ratio of 16.90, a P/E/G ratio of 1.18 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 firm has a fifty day simple moving average of $19.53 and a 200 day simple moving average of $18.88. 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 quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $27.77 billion for 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 business’s revenue was up 32.1% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. On average, research analysts expect that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders 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 6.7%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is currently 112.50%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Stifel Nicolaus boosted their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Jefferies Financial Group upgraded shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, May 26th. JPMorgan Chase & Co. raised their price objective on Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $23.55.

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.