MV Capital Management Inc. Invests $464,000 in Energy Transfer LP $ET

MV Capital Management Inc. bought a new position in shares of Energy Transfer LP (NYSE:ET) in the fourth quarter, Holdings Channel.com reports. The fund bought 28,145 shares of the pipeline company’s stock, valued at approximately $464,000.

Several other hedge funds and other institutional investors have also bought and sold shares of ET. Basepoint Wealth LLC acquired a new stake in Energy Transfer during the 4th quarter worth about $25,000. Gables Capital Management Inc. raised its position in shares of Energy Transfer by 60.0% in 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 position in shares of Energy Transfer in the 4th quarter valued at about $32,000. Financial Life Planners acquired a new position in shares of Energy Transfer in the 3rd quarter valued at about $34,000. Finally, Navalign LLC bought a new stake in shares of Energy Transfer during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ET. Stifel Nicolaus lifted their target price on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Morgan Stanley raised their price objective 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. Jefferies Financial Group upgraded shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Tuesday, May 26th. Finally, Wells Fargo & Company boosted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. Two equities research 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $23.45.

Energy Transfer Stock Performance

ET opened at $18.77 on Friday. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $20.70. The company has a market cap of $64.60 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.09 and a beta of 0.55. The company’s fifty day moving average price is $19.43 and its two-hundred day moving average price is $18.42. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The business had revenue of $27.77 billion for the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The firm’s quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share. On average, analysts expect 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 given a $0.3375 dividend. This represents a $1.35 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. 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.