Kathmere Capital Management LLC Takes $803,000 Position in Energy Transfer LP $ET

Kathmere Capital Management LLC bought a new position in shares of Energy Transfer LP (NYSE:ET) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 41,581 shares of the pipeline company’s stock, valued at approximately $803,000.

Other hedge funds have also recently modified their holdings of the company. Morgan Stanley boosted its holdings in Energy Transfer by 41.6% in the 4th quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock worth $1,423,256,000 after buying an additional 25,366,594 shares during the last quarter. Alps Advisors Inc. lifted its position in shares of Energy Transfer by 8.0% in the fourth quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock valued at $1,382,573,000 after acquiring an additional 6,192,066 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Energy Transfer by 3.2% in the third quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock worth $992,923,000 after acquiring an additional 1,773,042 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Energy Transfer by 0.3% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 38,675,828 shares of the pipeline company’s stock worth $637,764,000 after acquiring an additional 103,245 shares during the last quarter. Finally, Energy Income Partners LLC increased its position in shares of Energy Transfer by 1.4% during the third quarter. Energy Income Partners LLC now owns 23,351,183 shares of the pipeline company’s stock worth $400,706,000 after purchasing an additional 326,653 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Morgan Stanley upped their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Truist Financial began coverage on shares of Energy Transfer in a research report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price target on the stock. Finally, Barclays reaffirmed an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Energy Transfer presently has an average rating of “Buy” and a consensus target price of $23.45.

Energy Transfer Trading Up 2.4%

NYSE ET traded up $0.47 on Tuesday, reaching $19.71. 2,633,046 shares of the company were exchanged, compared to its average volume of 14,271,476. The business’s fifty day moving average price is $19.46 and its 200 day moving average price is $18.61. The stock has a market capitalization of $67.84 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 1.12 and a beta of 0.55. 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 LP has a fifty-two week low of $16.18 and a fifty-two week high of $20.70.

Energy Transfer (NYSE:ET) last issued its earnings results 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 return on equity of 9.77% and a net margin of 4.66%.The company had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. During the same period last year, the business earned $0.36 earnings per share. The firm’s revenue was up 32.1% compared to the same quarter last year. Analysts forecast that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a $0.3375 dividend. This represents a $1.35 annualized dividend and a yield of 6.8%. The ex-dividend date was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio (DPR) 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.