MSH Capital Advisors LLC Boosts Stock Position in Energy Transfer LP $ET

MSH Capital Advisors LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 50.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,634 shares of the pipeline company’s stock after purchasing an additional 30,825 shares during the period. MSH Capital Advisors LLC’s holdings in Energy Transfer were worth $1,511,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ET. Gables Capital Management Inc. boosted its position in Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 600 shares during the last quarter. Financial Life Planners purchased a new position in Energy Transfer in the third quarter worth $34,000. Navalign LLC purchased a new position in Energy Transfer in the fourth quarter worth $37,000. Core Alternative Capital purchased a new position in Energy Transfer in the third quarter worth $46,000. Finally, Tucker Asset Management LLC purchased a new position in Energy Transfer in the fourth quarter worth $47,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.1%

Shares of NYSE ET opened at $20.09 on Tuesday. Energy Transfer LP has a one year low of $16.18 and a one year high of $20.70. 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’s fifty day moving average price is $19.38 and its 200-day moving average price is $18.10. The stock has a market capitalization of $69.14 billion, a PE ratio of 16.74, a P/E/G ratio of 1.21 and a beta of 0.57.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results 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 firm had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. During the same period in the prior year, the company earned $0.36 EPS. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. On average, equities research analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current year.

Energy Transfer Increases Dividend

The company 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 represents a $1.35 dividend on an annualized basis and a dividend yield of 6.7%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is currently 112.50%.

Analysts Set New Price Targets

Several research firms have weighed in on ET. Citigroup reissued a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 7th. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Wells Fargo & Company boosted their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Jefferies Financial Group reissued a “hold” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Finally, Stifel Nicolaus boosted their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Energy Transfer currently has a consensus rating of “Buy” and a consensus target price of $22.73.

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.