Janney Montgomery Scott LLC Boosts Stock Position in Energy Transfer LP $ET

Janney Montgomery Scott LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 7.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 867,869 shares of the pipeline company’s stock after purchasing an additional 60,168 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Energy Transfer were worth $16,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in ET. Brighton Jones LLC boosted its holdings in shares of Energy Transfer by 93.4% in the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after buying an additional 11,844 shares during the last quarter. AQR Capital Management LLC increased its holdings in Energy Transfer by 62.8% during the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock worth $391,000 after buying an additional 8,118 shares during the last quarter. Geode Capital Management LLC raised its position in Energy Transfer by 6.2% in the second quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock worth $2,455,000 after acquiring an additional 7,901 shares during the period. Russell Investments Group Ltd. raised its position in Energy Transfer by 436.5% in the second quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock worth $76,000 after acquiring an additional 3,400 shares during the period. Finally, Guggenheim Capital LLC boosted its stake in Energy Transfer by 5.6% in the second quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock valued at $923,000 after acquiring an additional 2,700 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Up 0.4%

Energy Transfer stock opened at $19.14 on Wednesday. The firm has a 50 day simple moving average of $19.45 and a 200 day simple moving average of $18.55. 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 1-year low of $16.18 and a 1-year high of $20.70. The firm has a market capitalization of $65.88 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 1.10 and a beta of 0.55.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The company had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The company’s revenue was up 32.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 EPS. On average, analysts predict that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a dividend of $0.3375 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a yield of 7.1%. Energy Transfer’s payout ratio is currently 112.50%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on ET shares. JPMorgan Chase & Co. increased their target price on shares of Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Citigroup reiterated a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a report on Friday, June 5th. Truist Financial began coverage on Energy Transfer in a research report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 target price for the company. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $23.45.

Energy Transfer 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.