Mcguire Capital Advisors Inc. Takes $1.53 Million Position in Energy Transfer LP $ET

Mcguire Capital Advisors Inc. bought a new position in shares of Energy Transfer LP (NYSE:ET) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 92,905 shares of the pipeline company’s stock, valued at approximately $1,532,000. Energy Transfer makes up about 1.0% of Mcguire Capital Advisors Inc.’s investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds also recently modified their holdings of the stock. TMB Capital Partners LLC acquired a new position in Energy Transfer in the fourth quarter valued at about $689,000. Axxcess Wealth Management LLC lifted its position in Energy Transfer by 7.7% during the fourth quarter. Axxcess Wealth Management LLC now owns 18,482 shares of the pipeline company’s stock worth $305,000 after purchasing an additional 1,315 shares during the period. Corient Private Wealth LLC grew its stake in Energy Transfer by 4.8% during the fourth quarter. Corient Private Wealth LLC now owns 1,936,780 shares of the pipeline company’s stock worth $30,717,000 after buying an additional 89,501 shares in the last quarter. Ameriflex Group Inc. increased its holdings in Energy Transfer by 76.9% in the 4th quarter. Ameriflex Group Inc. now owns 7,078 shares of the pipeline company’s stock valued at $117,000 after buying an additional 3,078 shares during the period. Finally, Virtue Capital Management LLC increased its holdings in Energy Transfer by 1,030.6% in the 4th quarter. Virtue Capital Management LLC now owns 89,253 shares of the pipeline company’s stock valued at $1,481,000 after buying an additional 81,359 shares during the period. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ET shares. Scotiabank restated an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Truist Financial began 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 on the stock. Citigroup restated a “buy” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 7th. JPMorgan Chase & Co. upped their target price on Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a report on Friday, June 5th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $23.45.

Energy Transfer Stock Up 0.1%

Shares of NYSE ET opened at $18.77 on Friday. 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 company has a market cap of $64.60 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.09 and a beta of 0.55. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $20.70. The stock has a 50-day moving average price of $19.43 and a two-hundred day moving average price of $18.42.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 earnings per share. As a group, analysts forecast that Energy Transfer LP will post 1.43 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $0.3375 dividend. This represents a $1.35 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio 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.