Corient Private Wealth LLC Has $31.02 Million Holdings in Energy Transfer LP $ET

Corient Private Wealth LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 1.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,880,623 shares of the pipeline company’s stock after acquiring an additional 33,344 shares during the quarter. Corient Private Wealth LLC’s holdings in Energy Transfer were worth $31,021,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ET. Morgan Stanley raised 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 worth $1,423,256,000 after purchasing an additional 25,366,594 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Energy Transfer during the third quarter valued at approximately $264,309,000. Alps Advisors Inc. boosted its position in shares of Energy Transfer by 8.0% during 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 last quarter. Invesco Ltd. grew its holdings in Energy Transfer by 3.2% during the third quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock worth $992,923,000 after buying an additional 1,773,042 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in Energy Transfer by 128.0% during the fourth quarter. Jump Financial LLC now owns 2,585,439 shares of the pipeline company’s stock worth $42,634,000 after buying an additional 1,451,613 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.1%

NYSE ET opened at $18.77 on Monday. The business’s fifty day moving average is $19.42 and its 200-day moving average is $18.43. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The stock has a market capitalization of $64.60 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.09 and a beta of 0.55. Energy Transfer LP has a one year low of $16.18 and a one year high of $20.70.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share 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 company had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. During the same quarter in the previous year, the company posted $0.36 EPS. Energy Transfer’s quarterly revenue was up 32.1% compared to the same quarter last year. Equities research analysts predict that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid 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 is presently 112.50%.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of analyst reports. Jefferies Financial Group raised shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, May 26th. TD Cowen reissued a “buy” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research report on Wednesday, May 13th. JPMorgan Chase & Co. boosted their price target on shares of Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Finally, 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 note on Friday, March 13th. Two investment 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.com, Energy Transfer presently has an average rating of “Buy” and an average 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.