Bollard Group LLC Acquires 145,529 Shares of Energy Transfer LP $ET

Bollard Group LLC grew its stake in Energy Transfer LP (NYSE:ET) by 17.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 956,441 shares of the pipeline company’s stock after acquiring an additional 145,529 shares during the period. Bollard Group LLC’s holdings in Energy Transfer were worth $18,459,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ET. Compound Planning Inc. acquired a new position in Energy Transfer during the 1st quarter worth $392,000. Mizuho Markets Americas LLC acquired a new stake in shares of Energy Transfer in the 1st quarter valued at $61,760,000. Bank of Nova Scotia bought a new stake in shares of Energy Transfer during the first quarter worth $630,000. Davis R M Inc. bought a new stake in shares of Energy Transfer during the first quarter worth $307,000. Finally, State of Wyoming lifted its stake in shares of Energy Transfer by 85.3% during the first quarter. State of Wyoming now owns 22,274 shares of the pipeline company’s stock valued at $430,000 after acquiring an additional 10,252 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Down 0.2%

ET stock opened at $20.38 on Friday. 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 $70.11 billion, a P/E ratio of 16.98, a P/E/G ratio of 1.18 and a beta of 0.55. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $20.70. The business has a 50-day moving average of $19.55 and a 200-day moving average of $18.97.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data 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 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%. Energy Transfer’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.43 earnings per share for the current fiscal 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 a boost 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 annualized dividend and a yield of 6.6%. Energy Transfer’s payout ratio is presently 112.50%.

Key Energy Transfer News

Here are the key news stories impacting Energy Transfer this week:

• Positive Sentiment: ET was featured as a low-beta stock that can help reduce portfolio risk, with stable fee-based revenues and growth projects supporting its defensive appeal. 3 Low-Beta Stocks to Minimize Portfolio Risk: LQDA, ET & PBF
• Positive Sentiment: Analysts and market commentary say Energy Transfer may be undervalued after raising EBITDA guidance, which could support the stock’s upside potential. Energy Transfer (ET) Could Be 13% Undervalued Following Raised EBITDA Guidance
• Positive Sentiment: The company affirmed its income appeal by announcing a quarterly cash distribution on Series I preferred units, signaling continued cash returns to investors. Energy Transfer LP Announces Cash Distribution on Series I Preferred Units
• Positive Sentiment: ET is being highlighted as a high-yield stock with strong analyst support and room to run, reinforcing investor interest in the name. 5 High-Yield Stocks With Analyst Support and Room to Run
• Neutral Sentiment: Several articles note that Zacks users have been searching for ET more frequently, suggesting rising attention but not a clear fundamental catalyst. Energy Transfer LP (ET) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: ET was also mentioned in broader industry pieces on pipeline MLPs and dividend stocks, which support the bullish case but do not add a company-specific catalyst. 3 Oil Pipeline MLP Stocks Riding on Favorable Industry Trends

Analysts Set New Price Targets

A number of brokerages recently commented on ET. Barclays reiterated an “overweight” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 14th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Zacks Research raised shares of Energy Transfer from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. TD Cowen restated a “buy” rating and issued a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a report on Thursday, July 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $23.50.

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.