ELCO Management Co. LLC Sells 233,368 Shares of Energy Transfer LP $ET

ELCO Management Co. LLC lowered its stake in shares of Energy Transfer LP (NYSE:ET) by 46.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 274,115 shares of the pipeline company’s stock after selling 233,368 shares during the period. Energy Transfer accounts for approximately 2.8% of ELCO Management Co. LLC’s portfolio, making the stock its 9th biggest holding. ELCO Management Co. LLC’s holdings in Energy Transfer were worth $4,520,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ET. CIBC Bancorp USA Inc. acquired a new stake in Energy Transfer in the 3rd quarter worth about $264,309,000. Alps Advisors Inc. boosted its stake in Energy Transfer by 4.5% in the 3rd quarter. Alps Advisors Inc. now owns 77,651,021 shares of the pipeline company’s stock worth $1,332,492,000 after buying an additional 3,366,734 shares during the last quarter. Invesco Ltd. boosted its stake in Energy Transfer by 3.2% in the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock worth $992,923,000 after buying an additional 1,773,042 shares during the last quarter. SG Americas Securities LLC boosted its stake in Energy Transfer by 187.1% in the 4th quarter. SG Americas Securities LLC now owns 1,940,500 shares of the pipeline company’s stock worth $31,999,000 after buying an additional 1,264,627 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its stake in Energy Transfer by 223.7% in the 2nd quarter. Corient Private Wealth LLC now owns 1,690,769 shares of the pipeline company’s stock worth $30,654,000 after buying an additional 1,168,438 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ET. Jefferies Financial Group reissued a “hold” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Wells Fargo & Company boosted their price target on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Citigroup reissued a “buy” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research report on Thursday. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $22.00.

Energy Transfer Trading Up 1.6%

NYSE:ET opened at $19.65 on Tuesday. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $20.67. The firm has a market capitalization of $67.60 billion, a P/E ratio of 16.37, a P/E/G ratio of 1.08 and a beta of 0.57. 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 has a 50 day simple moving average of $19.09 and a 200 day simple moving average of $17.86.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (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 company had revenue of $27.77 billion for the quarter, compared to analyst estimates of $25.78 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The company’s revenue for the quarter was up 32.1% compared to the same quarter last year. Equities research analysts predict that Energy Transfer LP will post 1.47 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Friday, May 8th will be given a dividend of $0.3375 per share. The ex-dividend date is Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a yield of 6.9%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is presently 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.