Progeny 3 Inc. Sells 131,578 Shares of Energy Transfer LP $ET

Progeny 3 Inc. lowered its position in Energy Transfer LP (NYSE:ET) by 4.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,743,907 shares of the pipeline company’s stock after selling 131,578 shares during the quarter. Energy Transfer makes up approximately 2.9% of Progeny 3 Inc.’s portfolio, making the stock its 16th biggest position. Progeny 3 Inc. owned about 0.08% of Energy Transfer worth $52,957,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Morgan Stanley boosted its stake in shares of Energy Transfer by 41.6% in the 4th quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock valued at $1,423,256,000 after purchasing an additional 25,366,594 shares in the last quarter. Alps Advisors Inc. raised its position in Energy Transfer by 8.0% in the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock worth $1,382,573,000 after purchasing an additional 6,192,066 shares during the period. Mizuho Markets Americas LLC bought a new stake in Energy Transfer in the first quarter worth $61,760,000. Invesco Ltd. lifted its stake in 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 purchasing an additional 1,773,042 shares during the last quarter. Finally, Jump Financial LLC boosted its position in Energy Transfer by 128.0% during the fourth quarter. Jump Financial LLC now owns 2,585,439 shares of the pipeline company’s stock valued at $42,634,000 after buying an additional 1,451,613 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Up 0.1%

NYSE ET opened at $20.38 on Monday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. The stock has a market capitalization of $70.11 billion, a PE ratio of 16.98, a PEG ratio of 1.18 and a beta of 0.55. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $20.70. The business’s 50-day moving average is $19.55 and its 200 day moving average is $18.99.

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). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. During the same period in the previous year, the company earned $0.36 EPS. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. Sell-side analysts forecast that Energy Transfer LP will post 1.43 earnings per share for the current year.

Key Energy Transfer News

Here are the key news stories impacting Energy Transfer this week:

• Positive Sentiment: ET was featured as a low-beta stock that can help reduce portfolio risk, with stable fee-based revenues and growth projects supporting its defensive appeal. 3 Low-Beta Stocks to Minimize Portfolio Risk: LQDA, ET & PBF
• Positive Sentiment: Analysts and market commentary say Energy Transfer may be undervalued after raising EBITDA guidance, which could support the stock’s upside potential. Energy Transfer (ET) Could Be 13% Undervalued Following Raised EBITDA Guidance
• Positive Sentiment: The company affirmed its income appeal by announcing a quarterly cash distribution on Series I preferred units, signaling continued cash returns to investors. Energy Transfer LP Announces Cash Distribution on Series I Preferred Units
• Positive Sentiment: ET is being highlighted as a high-yield stock with strong analyst support and room to run, reinforcing investor interest in the name. 5 High-Yield Stocks With Analyst Support and Room to Run
• Neutral Sentiment: Several articles note that Zacks users have been searching for ET more frequently, suggesting rising attention but not a clear fundamental catalyst. Energy Transfer LP (ET) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: ET was also mentioned in broader industry pieces on pipeline MLPs and dividend stocks, which support the bullish case but do not add a company-specific catalyst. 3 Oil Pipeline MLP Stocks Riding on Favorable Industry Trends

Wall Street Analyst Weigh In

Several research firms have recently commented on ET. Morgan Stanley lifted their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. TD Cowen restated a “buy” rating and set a $24.00 price target (up from $23.00) on shares of Energy Transfer in a research report on Thursday, July 16th. Barclays reaffirmed an “overweight” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. Jefferies Financial Group upgraded Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $23.50.

About Energy Transfer

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.