Hodges Capital Management Inc. Has $5.19 Million Holdings in Energy Transfer LP (NYSE:ET)

Hodges Capital Management Inc. increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 8.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 329,835 shares of the pipeline company’s stock after purchasing an additional 26,298 shares during the quarter. Hodges Capital Management Inc.’s holdings in Energy Transfer were worth $5,188,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its holdings in shares of Energy Transfer by 230.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock valued at $10,335,000 after acquiring an additional 513,989 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Energy Transfer by 37.3% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 4,756 shares of the pipeline company’s stock valued at $67,000 after buying an additional 1,291 shares during the last quarter. Mutual Advisors LLC grew its stake in shares of Energy Transfer by 2.5% in the third quarter. Mutual Advisors LLC now owns 69,005 shares of the pipeline company’s stock valued at $968,000 after buying an additional 1,668 shares in the last quarter. Synovus Financial Corp raised its position in Energy Transfer by 364.0% during the third quarter. Synovus Financial Corp now owns 90,292 shares of the pipeline company’s stock worth $1,267,000 after acquiring an additional 70,832 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Energy Transfer by 6,759.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 26,820 shares of the pipeline company’s stock valued at $376,000 after acquiring an additional 26,429 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET traded up $0.19 during midday trading on Friday, reaching $16.22. 12,587,038 shares of the stock were exchanged, compared to its average volume of 9,432,486. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The stock’s 50 day simple moving average is $15.73 and its 200 day simple moving average is $15.00. Energy Transfer LP has a twelve month low of $12.46 and a twelve month high of $16.40. The company has a market cap of $54.66 billion, a P/E ratio of 14.89, a PEG ratio of 0.44 and a beta of 1.63.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same quarter last year, the firm earned $0.32 EPS. Energy Transfer’s revenue for the quarter was up 13.9% compared to the same quarter last year. On average, sell-side analysts expect that Energy Transfer LP will post 1.45 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were given a dividend of $0.317 per share. The ex-dividend date was Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a yield of 7.82%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 116.51%.

Analyst Upgrades and Downgrades

ET has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Mizuho boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. UBS Group raised their price target on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. JPMorgan Chase & Co. lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Finally, Stifel Nicolaus raised their target price on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.