Infrastructure Capital Advisors LLC Lowers Stock Position in Energy Transfer LP $ET

Infrastructure Capital Advisors LLC cut its holdings in shares of Energy Transfer LP (NYSE:ET) by 2.4% during the 4th quarter, Holdings Channel reports. The firm owned 3,027,317 shares of the pipeline company’s stock after selling 75,000 shares during the period. Energy Transfer makes up 4.8% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 6th largest holding. Infrastructure Capital Advisors LLC’s holdings in Energy Transfer were worth $49,920,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in ET. Basepoint Wealth LLC acquired a new stake in shares of Energy Transfer during the 4th quarter worth approximately $25,000. Gables Capital Management Inc. boosted its position in shares of Energy Transfer by 60.0% during the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 600 shares in the last quarter. Sarver Vrooman Wealth Advisors acquired a new stake in shares of Energy Transfer during the 4th quarter worth approximately $32,000. Financial Life Planners acquired a new stake in shares of Energy Transfer during the 3rd quarter worth approximately $34,000. Finally, Navalign LLC acquired a new stake in shares of Energy Transfer during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ET. Morgan Stanley increased their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Stifel Nicolaus increased their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Barclays reiterated an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 14th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $23.45.

Energy Transfer Price Performance

ET stock opened at $18.75 on Thursday. The company has a fifty day moving average price of $19.43 and a 200-day moving average price of $18.40. The company has a market capitalization of $64.51 billion, a P/E ratio of 15.62, a PEG ratio of 1.10 and a beta of 0.55. Energy Transfer LP has a 52-week low of $16.18 and a 52-week 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.

Energy Transfer (NYSE:ET) last released its quarterly 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 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 revenue was up 32.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. As a group, equities analysts expect that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a dividend of $0.3375 per share. The ex-dividend date of this dividend was Friday, May 8th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a dividend yield of 7.2%. Energy Transfer’s payout ratio is 112.50%.

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.