Transcend Capital Advisors LLC Boosts Holdings in Energy Transfer LP (NYSE:ET)

Transcend Capital Advisors LLC raised its stake in shares of Energy Transfer LP (NYSE:ET) by 11.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,731 shares of the pipeline company’s stock after purchasing an additional 7,887 shares during the period. Transcend Capital Advisors LLC’s holdings in Energy Transfer were worth $1,073,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ET. Activest Wealth Management lifted its stake in shares of Energy Transfer by 33.9% in the fourth quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock worth $40,000 after buying an additional 736 shares in the last quarter. Veracity Capital LLC lifted its stake in shares of Energy Transfer by 2.3% in the fourth quarter. Veracity Capital LLC now owns 32,203 shares of the pipeline company’s stock worth $444,000 after buying an additional 738 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in shares of Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after buying an additional 750 shares in the last quarter. Bahl & Gaynor Inc. lifted its stake in shares of Energy Transfer by 0.3% in the fourth quarter. Bahl & Gaynor Inc. now owns 228,569 shares of the pipeline company’s stock worth $3,154,000 after buying an additional 769 shares in the last quarter. Finally, Cornerstone Wealth Management LLC lifted its stake in shares of Energy Transfer by 2.1% in the fourth quarter. Cornerstone Wealth Management LLC now owns 37,195 shares of the pipeline company’s stock worth $513,000 after buying an additional 776 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of ET opened at $15.96 on Monday. Energy Transfer LP has a 1-year low of $12.18 and a 1-year high of $16.04. The stock has a market cap of $53.78 billion, a PE ratio of 14.64 and a beta of 1.64. The firm has a 50-day simple moving average of $15.36 and a two-hundred day simple moving average of $14.33. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The business had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the business earned $0.34 earnings per share. As a group, analysts forecast that Energy Transfer LP will post 1.57 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be issued a $0.317 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.94%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 115.60%.

Analysts Set New Price Targets

ET has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Mizuho restated a “buy” rating and set a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Finally, UBS Group cut their price objective on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Energy Transfer Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.