Sanctuary Advisors LLC Purchases 257,954 Shares of Energy Transfer LP $ET

Sanctuary Advisors LLC increased its position in Energy Transfer LP (NYSE:ET) by 15.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,888,661 shares of the pipeline company’s stock after acquiring an additional 257,954 shares during the quarter. Sanctuary Advisors LLC’s holdings in Energy Transfer were worth $36,451,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ET. Texas Yale Capital Corp. lifted its stake in shares of Energy Transfer by 6.1% during the 4th quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock valued at $21,634,000 after buying an additional 75,700 shares in the last quarter. North Star Investment Management Corp. boosted its holdings in Energy Transfer by 100.1% in the 4th quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company’s stock worth $2,664,000 after buying an additional 80,786 shares during the period. Summit Securities Group LLC grew its stake in Energy Transfer by 179.0% in the 1st quarter. Summit Securities Group LLC now owns 162,100 shares of the pipeline company’s stock valued at $3,129,000 after buying an additional 104,000 shares in the last quarter. Avior Wealth Management LLC grew its stake in Energy Transfer by 436.6% in the 4th quarter. Avior Wealth Management LLC now owns 90,160 shares of the pipeline company’s stock valued at $1,487,000 after buying an additional 73,359 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Energy Transfer by 2.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company’s stock valued at $375,777,000 after acquiring an additional 544,944 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Trading Down 0.5%

Energy Transfer stock opened at $20.07 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $20.70. The stock has a market cap of $69.08 billion, a P/E ratio of 16.73, a PEG ratio of 1.17 and a beta of 0.55. The firm’s fifty day moving average price is $19.49 and its 200-day moving average price is $18.78.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data 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 business had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. Energy Transfer’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS. Equities research analysts forecast that Energy Transfer LP will post 1.43 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a $0.3375 dividend. 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 6.7%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is presently 112.50%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ET shares. Zacks Research upgraded Energy Transfer from a “hold” rating to a “strong-buy” rating in a research report on Monday. Citigroup reiterated a “buy” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. Truist Financial assumed coverage on Energy Transfer in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price objective on the stock. TD Cowen restated a “buy” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. raised their target price on Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Energy Transfer presently has an average rating of “Buy” and a consensus target price 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.