American Research & Management Co. boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 23.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 214,590 shares of the pipeline company’s stock after buying an additional 40,876 shares during the quarter. American Research & Management Co.’s holdings in Energy Transfer were worth $1,648,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of ET. FMR LLC bought a new position in Energy Transfer during the first quarter valued at about $16,012,000. First Trust Advisors LP purchased a new stake in shares of Energy Transfer in the first quarter worth about $4,660,000. BlackRock Inc. lifted its holdings in shares of Energy Transfer by 4.2% in the third quarter. BlackRock Inc. now owns 268,453 shares of the pipeline company’s stock worth $1,455,000 after buying an additional 10,769 shares in the last quarter. Wealth Alliance raised its stake in Energy Transfer by 10.4% in the third quarter. Wealth Alliance now owns 37,111 shares of the pipeline company’s stock valued at $201,000 after purchasing an additional 3,501 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in Energy Transfer by 421.9% in the third quarter. Allianz Asset Management GmbH now owns 935,015 shares of the pipeline company’s stock valued at $5,067,000 after purchasing an additional 755,850 shares in the last quarter. Institutional investors own 36.42% of the company’s stock.
Several brokerages recently commented on ET. Credit Suisse Group lifted their target price on shares of Energy Transfer from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Monday, March 8th. Zacks Investment Research upgraded shares of Energy Transfer from a “sell” rating to a “hold” rating in a report on Tuesday, March 23rd. Barclays upgraded shares of Energy Transfer from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $9.00 to $10.00 in a report on Tuesday, January 12th. Morgan Stanley upgraded shares of Energy Transfer from an “equal weight” rating to an “overweight” rating in a report on Friday, December 11th. Finally, Piper Sandler raised shares of Energy Transfer from a “neutral” rating to an “overweight” rating and raised their target price for the company from $7.00 to $9.00 in a research note on Monday, March 1st. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $9.92.
Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, February 16th. The pipeline company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.07). Energy Transfer had a negative net margin of 0.64% and a positive return on equity of 8.23%. On average, analysts expect that Energy Transfer LP will post 0.88 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 19th. Stockholders of record on Monday, February 8th were given a $0.1525 dividend. The ex-dividend date was Friday, February 5th. This represents a $0.61 annualized dividend and a dividend yield of 7.92%. Energy Transfer’s payout ratio is 42.07%.
Energy Transfer Profile
Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,500 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
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