Annis Gardner Whiting Capital Advisors LLC Makes New Investment in Energy Transfer LP $ET

Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Energy Transfer LP (NYSE:ET) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 100,000 shares of the pipeline company’s stock, valued at approximately $1,930,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Basepoint Wealth LLC acquired a new position in shares of Energy Transfer in the fourth quarter worth about $25,000. Gables Capital Management Inc. grew its stake in Energy Transfer by 60.0% during the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 600 shares in the last quarter. Sarver Vrooman Wealth Advisors purchased a new stake in Energy Transfer during the 4th quarter worth approximately $32,000. Financial Life Planners purchased a new stake in Energy Transfer during the 1st quarter worth approximately $40,000. Finally, Navalign LLC purchased a new stake in Energy Transfer during the 4th quarter worth approximately $37,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

Shares of ET stock opened at $20.30 on Friday. 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 business has a 50 day moving average of $19.52 and a two-hundred day moving average of $18.84. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $20.70. The company has a market cap of $69.87 billion, a P/E ratio of 16.92, a PEG ratio of 1.17 and a beta of 0.55.

Energy Transfer (NYSE:ET) last announced 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 for the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. As a group, analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current 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 dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date was Friday, May 8th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio (DPR) is currently 112.50%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Citigroup reiterated a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Barclays reaffirmed an “overweight” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 14th. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $23.55.

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.