Progeny 3 Inc. Trims Stake in 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 its most recent 13F filing with the SEC. The institutional investor owned 2,743,907 shares of the pipeline company’s stock after selling 131,578 shares during the period. Energy Transfer accounts for about 2.9% of Progeny 3 Inc.’s investment portfolio, making the stock its 16th largest holding. Progeny 3 Inc.’s holdings in Energy Transfer were worth $52,957,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Keybank National Association OH grew its stake in Energy Transfer by 0.3% in the first quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock worth $4,231,000 after purchasing an additional 556 shares during the period. Mountain Capital Investment Advisors Inc. boosted its holdings in shares of Energy Transfer by 4.9% during the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock valued at $216,000 after buying an additional 560 shares in the last quarter. Marks Wealth LLC grew its position in shares of Energy Transfer by 4.7% in the 4th 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. Citizens Financial Group Inc. RI grew its position in shares of Energy Transfer by 2.4% in the 1st quarter. Citizens Financial Group Inc. RI now owns 23,978 shares of the pipeline company’s stock worth $463,000 after buying an additional 562 shares during the period. Finally, Avos Capital Management LLC increased its stake in shares of Energy Transfer by 0.8% in the 4th quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock worth $1,265,000 after acquiring an additional 583 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

ET has been the subject of a number of recent research reports. TD Cowen reissued a “buy” rating and set a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research note on Thursday, July 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a report on Friday, June 5th. Royal Bank Of Canada reissued an “outperform” rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, July 21st. Barclays reaffirmed an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 14th. Finally, Zacks Research raised Energy Transfer from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Three research 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 stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $23.50.

Energy Transfer News Summary

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

Energy Transfer Stock Up 0.1%

Shares of Energy Transfer stock opened at $20.38 on Monday. The company has a 50-day simple moving average of $19.55 and a two-hundred day simple moving average of $18.99. The stock has a market capitalization of $70.11 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 1.18 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 posted 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 firm had revenue of $27.77 billion for 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 quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. On average, analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

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.