Daymark Wealth Partners LLC Increases Holdings in Energy Transfer LP (NYSE:ET)

Daymark Wealth Partners LLC raised its stake in Energy Transfer LP (NYSE:ET) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 165,068 shares of the pipeline company’s stock after acquiring an additional 4,390 shares during the period. Daymark Wealth Partners LLC’s holdings in Energy Transfer were worth $3,069,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC raised its holdings in Energy Transfer by 15.7% in the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock worth $756,840,000 after acquiring an additional 5,254,721 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its holdings in shares of Energy Transfer by 7.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock worth $469,920,000 after purchasing an additional 1,723,683 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Energy Transfer by 5.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company’s stock worth $387,416,000 after purchasing an additional 1,093,381 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Energy Transfer by 18.2% during the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company’s stock valued at $319,929,000 after purchasing an additional 2,512,060 shares in the last quarter. Finally, Natixis boosted its position in shares of Energy Transfer by 7.1% during the fourth quarter. Natixis now owns 14,619,124 shares of the pipeline company’s stock valued at $286,389,000 after buying an additional 962,800 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $17.67 on Thursday. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The firm has a market capitalization of $60.64 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 0.57 and a beta of 0.78. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41. The firm has a 50 day moving average of $17.54 and a 200 day moving average of $18.51.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion for the quarter, compared to analysts’ expectations of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 EPS. On average, research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were given a $0.3275 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a yield of 7.41%. Energy Transfer’s dividend payout ratio is presently 99.24%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the transaction, the director now directly owns 24,523 shares in the company, valued at $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $23.00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Wells Fargo & Company decreased their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Morgan Stanley raised their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. cut their target price on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average price target of $22.64.

Energy Transfer Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.