Shulman DeMeo Asset Management LLC acquired a new position in shares of Energy Transfer LP (NYSE:ET) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 17,278 shares of the pipeline company’s stock, valued at approximately $107,000.
A number of other institutional investors have also modified their holdings of the stock. Beese Fulmer Investment Management Inc. raised its stake in Energy Transfer by 20.9% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 11,557 shares of the pipeline company’s stock worth $63,000 after buying an additional 2,000 shares during the period. Asio Capital LLC raised its stake in Energy Transfer by 2.5% during the 3rd quarter. Asio Capital LLC now owns 82,252 shares of the pipeline company’s stock worth $446,000 after buying an additional 2,000 shares during the period. RFG Advisory LLC raised its stake in Energy Transfer by 15.1% during the 3rd quarter. RFG Advisory LLC now owns 17,595 shares of the pipeline company’s stock worth $95,000 after buying an additional 2,307 shares during the period. CIBC Asset Management Inc raised its stake in Energy Transfer by 2.5% during the 3rd quarter. CIBC Asset Management Inc now owns 100,638 shares of the pipeline company’s stock worth $545,000 after buying an additional 2,490 shares during the period. Finally, Capital Advisors Inc. OK raised its stake in Energy Transfer by 20.9% during the 2nd quarter. Capital Advisors Inc. OK now owns 14,477 shares of the pipeline company’s stock worth $96,000 after buying an additional 2,500 shares during the period. 34.68% of the stock is currently owned by institutional investors and hedge funds.
Energy Transfer stock opened at $7.24 on Thursday. Energy Transfer LP has a 52 week low of $3.75 and a 52 week high of $13.70. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.73 and a current ratio of 1.02. The stock has a market capitalization of $19.53 billion, a P/E ratio of -72.40 and a beta of 2.61. The stock has a 50-day simple moving average of $6.59 and a 200 day simple moving average of $6.25.
Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 4th. The pipeline company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.52). Energy Transfer had a positive return on equity of 8.23% and a negative net margin of 0.64%. The business had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $10.08 billion. During the same quarter in the previous year, the business posted $0.32 EPS. The company’s revenue for the quarter was down 26.2% on a year-over-year basis. Research analysts forecast that Energy Transfer LP will post 0.88 earnings per share for the current year.
The firm also recently declared a dividend, which was paid on Wednesday, December 23rd. Investors of record on Wednesday, December 16th were issued a dividend of $0.72 per share. This represents a yield of 5.19%. The ex-dividend date was Tuesday, December 15th. Energy Transfer’s payout ratio is currently 42.07%.
Several analysts have issued reports on the company. Raymond James dropped their price target on Energy Transfer from $10.00 to $9.00 and set a “strong-buy” rating on the stock in a research note on Thursday, November 5th. Morgan Stanley raised Energy Transfer from an “equal weight” rating to an “overweight” rating in a research note on Friday, December 11th. Zacks Investment Research raised Energy Transfer from a “sell” rating to a “hold” rating in a research note on Thursday, October 22nd. Piper Sandler dropped their price target on Energy Transfer from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, October 9th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on Energy Transfer in a research note on Thursday, December 3rd. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $10.00.
Energy Transfer Profile
Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,500 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
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