ACT Capital Management LLC Purchases New Holdings in Energy Transfer LP $ET

ACT Capital Management LLC purchased a new stake in Energy Transfer LP (NYSE:ET) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 133,100 shares of the pipeline company’s stock, valued at approximately $2,195,000. Energy Transfer makes up 1.8% of ACT Capital Management LLC’s investment portfolio, making the stock its 17th biggest position.

Several other institutional investors have also made changes to their positions in the stock. Morgan Stanley boosted its stake in shares of Energy Transfer by 41.6% in the fourth 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. boosted its stake in shares of Energy Transfer by 8.0% in the fourth quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock valued at $1,382,573,000 after buying an additional 6,192,066 shares during the period. Invesco Ltd. boosted 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 valued at $992,923,000 after buying an additional 1,773,042 shares during the period. Tortoise Capital Advisors L.L.C. boosted 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 valued at $637,764,000 after buying an additional 103,245 shares during the period. Finally, Energy Income Partners LLC lifted its stake in 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 purchasing an additional 326,653 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research note on Friday, June 5th. Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Wells Fargo & Company upped their target price on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, March 13th. Finally, Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $23.45.

Energy Transfer Stock Performance

NYSE ET opened at $18.75 on Thursday. The company has a market capitalization of $64.51 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.10 and a beta of 0.55. Energy Transfer LP has a twelve month low of $16.18 and a twelve month high of $20.70. The stock has a fifty day simple moving average of $19.43 and a 200 day simple moving average of $18.40. 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 (NYSE:ET) last posted its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The company had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 earnings per share. Sell-side analysts expect that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a $0.3375 dividend. The ex-dividend date was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a yield of 7.2%. Energy Transfer’s dividend payout ratio (DPR) is currently 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.