28,145 Shares in Energy Transfer LP $ET Bought by MV Capital Management Inc.

MV Capital Management Inc. acquired a new stake in Energy Transfer LP (NYSE:ET) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 28,145 shares of the pipeline company’s stock, valued at approximately $464,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Basepoint Wealth LLC bought a new position in shares of Energy Transfer in the fourth quarter worth about $25,000. Gables Capital Management Inc. grew its holdings in shares of 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 during the last quarter. Sarver Vrooman Wealth Advisors bought a new stake in shares of Energy Transfer during the 4th quarter valued at approximately $32,000. Financial Life Planners acquired a new position in Energy Transfer during the 3rd quarter worth approximately $34,000. Finally, Navalign LLC acquired a new position in Energy Transfer during the 4th quarter worth approximately $37,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.1%

Shares of ET opened at $18.77 on Friday. The company has a market capitalization of $64.60 billion, a PE 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’s 50-day moving average price is $19.43 and its two-hundred day moving average price is $18.42. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last released its quarterly 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 company had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The company’s quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 EPS. On average, analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a $0.3375 dividend. The ex-dividend date was Friday, May 8th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 7.2%. Energy Transfer’s dividend payout ratio (DPR) is currently 112.50%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research report on Friday, June 5th. Jefferies Financial Group upgraded Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research note on Tuesday, May 26th. Morgan Stanley raised their price objective on Energy Transfer from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday, May 27th. TD Cowen 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 Wednesday, May 13th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $23.45.

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.