Xcel Wealth Management LLC Takes Position in Energy Transfer LP $ET

Xcel Wealth Management LLC bought a new position in shares of Energy Transfer LP (NYSE:ET) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 58,985 shares of the pipeline company’s stock, valued at approximately $1,138,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ET. Basepoint Wealth LLC purchased a new stake in shares of Energy Transfer in the fourth quarter worth approximately $25,000. Gables Capital Management Inc. boosted its position in shares of Energy Transfer by 60.0% during the fourth 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 during the last quarter. Sarver Vrooman Wealth Advisors bought a new stake in Energy Transfer during the fourth quarter worth $32,000. Financial Life Planners bought a new stake in Energy Transfer during the third quarter worth $34,000. Finally, Navalign LLC purchased a new stake in Energy Transfer in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ET. Wells Fargo & Company raised their price objective on Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Morgan Stanley upped their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. 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. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Finally, Jefferies Financial Group upgraded shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $23.45.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $19.16 on Friday. The business’s fifty day simple moving average is $19.43 and its 200 day simple moving average is $18.50. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $20.70. The firm has a market capitalization of $65.92 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 1.10 and a beta of 0.55.

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 net margin of 4.66% and a return on equity of 9.77%. The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. During the same quarter last year, the company earned $0.36 EPS. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. As a group, analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

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