54,421 Shares in Energy Transfer LP $ET Acquired by Lavelle Capital LP

Lavelle Capital LP acquired a new position in shares of Energy Transfer LP (NYSE:ET) during the 1st quarter, Holdings Channel.com reports. The firm acquired 54,421 shares of the pipeline company’s stock, valued at approximately $1,050,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ET. Texas Yale Capital Corp. raised its holdings in shares of Energy Transfer by 6.1% in the fourth quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock valued at $21,634,000 after acquiring an additional 75,700 shares in the last quarter. North Star Investment Management Corp. grew its holdings in Energy Transfer by 100.1% during the 4th quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company’s stock worth $2,664,000 after acquiring an additional 80,786 shares in the last quarter. Summit Securities Group LLC grew its holdings in Energy Transfer by 179.0% during the 1st quarter. Summit Securities Group LLC now owns 162,100 shares of the pipeline company’s stock worth $3,129,000 after acquiring an additional 104,000 shares in the last quarter. U.S. Capital Wealth Advisors LLC increased its position in Energy Transfer by 9.1% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 1,560,110 shares of the pipeline company’s stock valued at $25,726,000 after purchasing an additional 129,489 shares during the period. Finally, Mizuho Markets Americas LLC purchased a new position in Energy Transfer during the 1st quarter valued at about $61,760,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Performance

ET stock opened at $20.38 on Friday. Energy Transfer LP has a one year low of $16.18 and a one year high of $20.70. The firm has a market cap of $70.11 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 1.17 and a beta of 0.55. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The firm has a 50-day simple moving average of $19.55 and a two-hundred day simple moving average of $19.10.

Energy Transfer (NYSE:ET) last posted its 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). The firm had revenue of $27.77 billion for the quarter, compared to analysts’ expectations 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 was up 32.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 EPS. On average, equities analysts forecast that Energy Transfer LP will post 1.44 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be paid a dividend of $0.34 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, August 7th. This represents a $1.36 annualized dividend and a yield of 6.7%. Energy Transfer’s dividend payout ratio (DPR) is presently 112.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ET shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, July 21st. Raymond James Financial reissued a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. TD Cowen reissued a “buy” rating and issued a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research note on Thursday, July 16th. 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 report on Tuesday, May 12th. Finally, Zacks Research raised Energy Transfer from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Energy Transfer has an average rating of “Buy” and an average price target of $23.50.

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.