76,187 Shares in Energy Transfer LP $ET Purchased by Canal Capital Management LLC

Canal Capital Management LLC purchased a new stake in shares of Energy Transfer LP (NYSE:ET) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 76,187 shares of the pipeline company’s stock, valued at approximately $1,470,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ET. Basepoint Wealth LLC bought a new position in shares of Energy Transfer in the fourth quarter worth about $25,000. Gables Capital Management Inc. lifted its holdings in Energy Transfer by 60.0% during the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after buying an additional 600 shares in the last quarter. Sarver Vrooman Wealth Advisors purchased a new stake in Energy Transfer in the 4th quarter valued at about $32,000. Financial Life Planners purchased a new stake in Energy Transfer in the 3rd quarter valued at about $34,000. Finally, Navalign LLC bought a new position in Energy Transfer in the 4th quarter worth about $37,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Barclays reiterated an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 14th. Truist Financial began coverage on Energy Transfer in a report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price objective for the company. TD Cowen reaffirmed a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Wednesday, May 13th. Finally, Citigroup reaffirmed a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. Two 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 stock. According to MarketBeat, Energy Transfer has a consensus rating of “Buy” and an average price target of $23.45.

Energy Transfer Stock Down 0.1%

Energy Transfer stock opened at $19.32 on Friday. The business’s 50-day moving average price is $19.46 and its 200 day moving average price is $18.59. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The firm has a market cap of $66.47 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.12 and a beta of 0.55. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $20.70.

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

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a dividend of $0.3375 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a yield of 7.0%. The ex-dividend date was Friday, May 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 112.50%.

About Energy Transfer

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.