Mitchell Mcleod Pugh & Williams Inc. Raises Position in Energy Transfer LP $ET

Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Energy Transfer LP (NYSE:ET) by 79.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,354 shares of the pipeline company’s stock after buying an additional 40,929 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Energy Transfer were worth $1,657,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Mountain Capital Investment Advisors Inc. boosted its position in shares of Energy Transfer by 4.9% in the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock worth $216,000 after buying an additional 560 shares during the period. Marks Wealth LLC boosted its position in shares of Energy Transfer by 4.7% in the fourth quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock worth $207,000 after buying an additional 560 shares during the period. SP Asset Management LLC boosted its position in shares of Energy Transfer by 2.0% in the fourth quarter. SP Asset Management LLC now owns 30,631 shares of the pipeline company’s stock worth $505,000 after buying an additional 589 shares during the period. Gables Capital Management Inc. boosted its position in shares of Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after buying an additional 600 shares during the period. Finally, Fiduciary Financial Group LLC boosted its position in shares of Energy Transfer by 2.2% in the fourth quarter. Fiduciary Financial Group LLC now owns 28,106 shares of the pipeline company’s stock worth $463,000 after buying an additional 607 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. TD Cowen reaffirmed a “buy” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research note on Wednesday, May 13th. Citigroup reaffirmed a “buy” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research note on Friday, June 5th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Finally, Barclays reissued an “overweight” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Energy Transfer has an average rating of “Buy” and an average target price of $23.45.

Energy Transfer Trading Down 0.1%

Shares of ET opened at $19.04 on Thursday. The company has a market capitalization of $65.51 billion, a P/E ratio of 15.86, a P/E/G ratio of 1.10 and a beta of 0.55. Energy Transfer LP has a one year low of $16.18 and a one year high of $20.70. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The stock has a 50-day moving average price of $19.45 and a 200 day moving average price of $18.32.

Energy Transfer (NYSE:ET) last issued 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 business had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a $0.3375 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend was Friday, May 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 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.