Energy Transfer LP $ET Shares Purchased by Alps Advisors Inc.

Alps Advisors Inc. raised its position in Energy Transfer LP (NYSE:ET) by 8.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 83,843,087 shares of the pipeline company’s stock after purchasing an additional 6,192,066 shares during the quarter. Energy Transfer accounts for approximately 8.1% of Alps Advisors Inc.’s portfolio, making the stock its 2nd biggest holding. Alps Advisors Inc.’s holdings in Energy Transfer were worth $1,382,573,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in Energy Transfer by 3.2% in the third quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock valued at $992,923,000 after acquiring an additional 1,773,042 shares during the last quarter. Energy Income Partners LLC lifted its stake in Energy Transfer by 1.4% in the third 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. lifted its stake in 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 acquiring an additional 544,944 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Energy Transfer in the third quarter valued at about $264,309,000. Finally, Clearbridge Investments LLC raised its position in shares of Energy Transfer by 3.0% in the fourth quarter. Clearbridge Investments LLC now owns 13,014,994 shares of the pipeline company’s stock valued at $214,617,000 after purchasing an additional 374,000 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET stock opened at $18.80 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $20.70. The firm has a market cap of $64.70 billion, a P/E ratio of 15.67, a P/E/G ratio of 1.10 and a beta of 0.55. The company’s 50-day moving average price is $19.44 and its two-hundred day moving average price is $18.33.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The firm had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. During the same period in the prior year, the business earned $0.36 earnings per share. Energy Transfer’s quarterly revenue was up 32.1% compared to the same quarter last year. On average, analysts anticipate that Energy Transfer LP will post 1.43 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a $0.3375 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.35 annualized dividend and a yield of 7.2%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is 112.50%.

Wall Street Analyst Weigh In

ET has been the topic of several research analyst reports. Wells Fargo & Company increased their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a research report on Friday, June 5th. TD Cowen reissued a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Wednesday, May 13th. Finally, Stifel Nicolaus increased their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Two 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, Energy Transfer currently has an average rating of “Buy” and a consensus target price of $23.45.

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.