BROOKFIELD Corp ON Sells 618,086 Shares of Energy Transfer LP $ET

BROOKFIELD Corp ON decreased its stake in shares of Energy Transfer LP (NYSE:ET) by 8.8% during the 1st quarter, Holdings Channel reports. The firm owned 6,445,333 shares of the pipeline company’s stock after selling 618,086 shares during the period. Energy Transfer comprises about 0.2% of BROOKFIELD Corp ON’s investment portfolio, making the stock its 19th biggest position. BROOKFIELD Corp ON’s holdings in Energy Transfer were worth $124,395,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Basepoint Wealth LLC bought a new position in shares of Energy Transfer in the fourth quarter valued at $25,000. Gables Capital Management Inc. raised its position in Energy Transfer by 60.0% during the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 600 shares in the last quarter. Sarver Vrooman Wealth Advisors bought a new stake in Energy Transfer during the fourth quarter worth $32,000. Cassaday & Co Wealth Management LLC acquired a new stake in Energy Transfer in the first quarter valued at $35,000. Finally, Navalign LLC acquired a new stake in Energy Transfer in the fourth quarter valued at $37,000. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Raymond James Financial reissued a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Citigroup reaffirmed a “buy” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. JPMorgan Chase & Co. lifted their price target on Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Finally, Barclays reissued 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, May 14th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Energy Transfer presently has an average rating of “Buy” and an average price target of $23.50.

Key Headlines Impacting Energy Transfer

Here are the key news stories impacting Energy Transfer this week:

• Positive Sentiment: ET was featured as a low-beta stock that can help reduce portfolio risk, with stable fee-based revenues and growth projects supporting its defensive appeal. 3 Low-Beta Stocks to Minimize Portfolio Risk: LQDA, ET & PBF
• Positive Sentiment: Analysts and market commentary say Energy Transfer may be undervalued after raising EBITDA guidance, which could support the stock’s upside potential. Energy Transfer (ET) Could Be 13% Undervalued Following Raised EBITDA Guidance
• Positive Sentiment: The company affirmed its income appeal by announcing a quarterly cash distribution on Series I preferred units, signaling continued cash returns to investors. Energy Transfer LP Announces Cash Distribution on Series I Preferred Units
• Positive Sentiment: ET is being highlighted as a high-yield stock with strong analyst support and room to run, reinforcing investor interest in the name. 5 High-Yield Stocks With Analyst Support and Room to Run
• Neutral Sentiment: Several articles note that Zacks users have been searching for ET more frequently, suggesting rising attention but not a clear fundamental catalyst. Energy Transfer LP (ET) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: ET was also mentioned in broader industry pieces on pipeline MLPs and dividend stocks, which support the bullish case but do not add a company-specific catalyst. 3 Oil Pipeline MLP Stocks Riding on Favorable Industry Trends

Energy Transfer Trading Up 0.1%

Shares of Energy Transfer stock opened at $20.38 on Monday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The business has a fifty day simple moving average of $19.55 and a two-hundred day simple moving average of $18.99. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $20.70. The company has a market capitalization of $70.11 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 1.18 and a beta of 0.55.

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 the consensus estimate of $0.40 by ($0.05). The company had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. Energy Transfer’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Research analysts forecast that Energy Transfer LP will post 1.43 EPS for the current year.

About Energy Transfer

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.