Intellectus Partners LLC Raises Holdings in Energy Transfer LP (NYSE:ET)

Intellectus Partners LLC increased its holdings in Energy Transfer LP (NYSE:ET) by 5.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 118,984 shares of the pipeline company’s stock after acquiring an additional 6,575 shares during the period. Intellectus Partners LLC’s holdings in Energy Transfer were worth $2,212,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Adamsbrown Wealth Consultants LLC purchased a new position in Energy Transfer in the first quarter worth approximately $212,000. ACT Wealth Management LLC grew its position in Energy Transfer by 8.8% in the first quarter. ACT Wealth Management LLC now owns 21,719 shares of the pipeline company’s stock worth $404,000 after acquiring an additional 1,749 shares during the period. Retireful LLC purchased a new position in Energy Transfer in the first quarter worth approximately $1,195,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Energy Transfer during the first quarter worth $102,000. Finally, Secure Asset Management LLC boosted its position in shares of Energy Transfer by 15.2% during the first quarter. Secure Asset Management LLC now owns 29,919 shares of the pipeline company’s stock worth $556,000 after buying an additional 3,949 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Up 0.7%

Shares of NYSE ET opened at $17.65 on Friday. The company has a market capitalization of $60.56 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The business has a 50-day moving average of $17.21 and a two-hundred day moving average of $18.62. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The company had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Energy Transfer’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 EPS. On average, analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were issued a $0.3275 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a dividend yield of 7.42%. The ex-dividend date was Friday, May 9th. Energy Transfer’s payout ratio is presently 99.24%.

Analysts Set New Price Targets

ET has been the subject of several research analyst reports. Morgan Stanley raised their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Mizuho raised their price target on Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 20th. JPMorgan Chase & Co. lowered their price target on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, May 19th. Stifel Nicolaus raised their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Citigroup reiterated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.64.

Energy Transfer Company 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.