Everstar Asset Management LLC Acquires New Holdings in Energy Transfer LP $ET

Everstar Asset Management LLC acquired a new stake in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 75,464 shares of the pipeline company’s stock, valued at approximately $1,244,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Life Planners acquired a new position in shares of Energy Transfer in the 3rd quarter valued at approximately $34,000. Navalign LLC acquired a new position in shares of Energy Transfer in the 4th quarter valued at approximately $37,000. Core Alternative Capital acquired a new position in shares of Energy Transfer in the 3rd quarter valued at approximately $46,000. Clearstead Trust LLC acquired a new position in shares of Energy Transfer in the 3rd quarter valued at approximately $50,000. Finally, Golden State Wealth Management LLC grew its position in shares of Energy Transfer by 38.9% in the 3rd quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock valued at $50,000 after purchasing an additional 817 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Wells Fargo & Company boosted their price objective on Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Citigroup reaffirmed a “buy” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 7th. Finally, Barclays reaffirmed an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Energy Transfer presently has an average rating of “Buy” and a consensus target price of $22.75.

Energy Transfer Trading Down 0.9%

Shares of Energy Transfer stock opened at $20.18 on Friday. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $20.67. The stock has a market cap of $69.43 billion, a P/E ratio of 16.81, a P/E/G ratio of 1.19 and a beta of 0.57. 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 business’s 50 day moving average is $19.19 and its 200-day moving average is $17.95.

Energy Transfer (NYSE:ET) last announced 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). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.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 prior year, the company earned $0.36 EPS. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. Equities research analysts predict that Energy Transfer LP will post 1.41 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th will be paid a dividend of $0.3375 per share. The ex-dividend date is Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.7%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio (DPR) is currently 112.50%.

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.