ProShare Advisors LLC Increases Holdings in Energy Transfer LP $ET

ProShare Advisors LLC lifted its position in Energy Transfer LP (NYSE:ET) by 13.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 295,084 shares of the pipeline company’s stock after purchasing an additional 34,742 shares during the period. ProShare Advisors LLC’s holdings in Energy Transfer were worth $4,866,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ET. CIBC Bancorp USA Inc. purchased a new stake in shares of Energy Transfer in the third quarter valued at approximately $264,309,000. Alps Advisors Inc. boosted its holdings in shares of Energy Transfer by 4.5% in the third quarter. Alps Advisors Inc. now owns 77,651,021 shares of the pipeline company’s stock valued at $1,332,492,000 after purchasing an additional 3,366,734 shares during the period. Invesco Ltd. boosted its holdings in shares of Energy Transfer by 3.2% in the third quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock valued at $992,923,000 after purchasing an additional 1,773,042 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Energy Transfer by 187.1% in the fourth quarter. SG Americas Securities LLC now owns 1,940,500 shares of the pipeline company’s stock valued at $31,999,000 after purchasing an additional 1,264,627 shares during the period. Finally, Corient Private Wealth LLC boosted its holdings in shares of Energy Transfer by 223.7% in the second quarter. Corient Private Wealth LLC now owns 1,690,769 shares of the pipeline company’s stock valued at $30,654,000 after purchasing an additional 1,168,438 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on ET shares. Truist Financial started coverage on shares of Energy Transfer in a research note on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price objective for the company. Jefferies Financial Group reissued a “hold” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. JPMorgan Chase & Co. boosted their price objective on shares of Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Raymond James Financial reissued a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Finally, Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $22.73.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $20.09 on Friday. The company has a market capitalization of $69.14 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.21 and a beta of 0.57. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $20.70. 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 firm has a 50 day moving average of $19.35 and a 200 day moving average of $18.06.

Energy Transfer (NYSE:ET) last issued 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). The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. On average, sell-side analysts predict that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a dividend of $0.3375 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.7%. Energy Transfer’s payout ratio 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.