DCF Advisers LLC Takes $4.96 Million Position in Energy Transfer LP $ET

DCF Advisers LLC bought a new stake in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 300,500 shares of the pipeline company’s stock, valued at approximately $4,955,000. Energy Transfer comprises 1.3% of DCF Advisers LLC’s investment portfolio, making the stock its 22nd largest position.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. lifted its holdings in shares of Energy Transfer by 3.2% in the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock valued at $992,923,000 after purchasing an additional 1,773,042 shares during the last quarter. Energy Income Partners LLC raised its stake in Energy Transfer by 1.4% during the 3rd quarter. Energy Income Partners LLC now owns 23,351,183 shares of the pipeline company’s stock valued at $400,706,000 after acquiring an additional 326,653 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Energy Transfer by 2.6% during the 3rd 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 acquiring an additional 544,944 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in Energy Transfer during the 3rd quarter valued at approximately $264,309,000. Finally, Clearbridge Investments LLC raised its stake in Energy Transfer by 3.0% during the 4th quarter. Clearbridge Investments LLC now owns 13,014,994 shares of the pipeline company’s stock valued at $214,617,000 after acquiring an additional 374,000 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on ET shares. Truist Financial started coverage on Energy Transfer in a research note on Tuesday, March 24th. They set a “buy” rating and a $23.00 price objective for the company. Jefferies Financial Group raised 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. upped their price objective on Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Finally, TD Cowen reaffirmed a “buy” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $23.45.

Energy Transfer Stock Performance

Shares of ET stock opened at $19.04 on Thursday. The company has a market cap of $65.51 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.10 and a beta of 0.55. The stock has a 50 day simple moving average of $19.45 and a 200-day simple moving average of $18.32. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $20.70. 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 issued its earnings results 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 for the quarter, compared to analysts’ expectations 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 company posted $0.36 earnings per share. On average, equities analysts forecast that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a dividend of $0.3375 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 7.1%. Energy Transfer’s dividend payout ratio (DPR) is currently 112.50%.

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.