Manning & Napier Advisors LLC Buys 170,000 Shares of Energy Transfer LP $ET

Manning & Napier Advisors LLC lifted its stake in Energy Transfer LP (NYSE:ET) by 18.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,100,000 shares of the pipeline company’s stock after buying an additional 170,000 shares during the period. Manning & Napier Advisors LLC’s holdings in Energy Transfer were worth $21,230,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Texas Yale Capital Corp. lifted its position in shares of Energy Transfer by 6.1% during the fourth quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock worth $21,634,000 after purchasing an additional 75,700 shares in the last quarter. North Star Investment Management Corp. grew its stake in shares of Energy Transfer by 100.1% during the fourth quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company’s stock valued at $2,664,000 after purchasing an additional 80,786 shares during the last quarter. Avior Wealth Management LLC increased its holdings in shares of Energy Transfer by 436.6% in the fourth quarter. Avior Wealth Management LLC now owns 90,160 shares of the pipeline company’s stock valued at $1,487,000 after purchasing an additional 73,359 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Energy Transfer by 2.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company’s stock worth $375,777,000 after purchasing an additional 544,944 shares during the last quarter. Finally, Summit Securities Group LLC raised its position in Energy Transfer by 179.0% in the 1st quarter. Summit Securities Group LLC now owns 162,100 shares of the pipeline company’s stock worth $3,129,000 after purchasing an additional 104,000 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Jefferies Financial Group raised Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Tuesday, May 26th. 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. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a report on Friday, June 5th. Finally, Morgan Stanley upped their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 27th. Two research 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 company’s stock. According to MarketBeat, Energy Transfer has a consensus rating of “Buy” and an average price target of $23.45.

Energy Transfer Trading Down 0.7%

Shares of NYSE:ET traded down $0.14 during midday trading on Friday, hitting $19.65. The company had a trading volume of 6,586,905 shares, compared to its average volume of 7,553,990. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $20.70. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The stock has a market cap of $67.63 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.15 and a beta of 0.55. The firm has a fifty day simple moving average of $19.50 and a 200 day simple moving average of $18.71.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 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 company had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. During the same quarter in the prior year, the company posted $0.36 EPS. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. On average, analysts predict 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. Stockholders of record on Friday, May 8th were paid a $0.3375 dividend. 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 dividend on an annualized basis and a dividend yield of 6.9%. Energy Transfer’s dividend payout ratio (DPR) is currently 112.50%.

Energy Transfer Company 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.