Concurrent Investment Advisors LLC Grows Stock Holdings in Energy Transfer LP (NYSE:ET)

Concurrent Investment Advisors LLC grew its stake in Energy Transfer LP (NYSE:ET) by 1.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,694 shares of the pipeline company’s stock after purchasing an additional 1,043 shares during the period. Concurrent Investment Advisors LLC’s holdings in Energy Transfer were worth $939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Northwest Financial Advisors acquired a new position in Energy Transfer in the fourth quarter valued at approximately $25,000. Rise Advisors LLC increased its position in shares of Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares during the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Energy Transfer during the 4th quarter worth about $33,000. Harbor Investment Advisory LLC raised its holdings in Energy Transfer by 42.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after buying an additional 750 shares during the period. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in Energy Transfer during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

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

Energy Transfer Stock Up 0.9 %

Energy Transfer stock traded up $0.14 during trading on Monday, reaching $16.39. The stock had a trading volume of 18,727,522 shares, compared to its average volume of 11,867,495. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a 52-week low of $12.46 and a 52-week high of $16.48. The stock has a market cap of $55.23 billion, a PE ratio of 14.92, a P/E/G ratio of 0.44 and a beta of 1.66. The business has a 50 day moving average price of $15.82 and a 200 day moving average price of $15.20.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) 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 firm had revenue of $21.63 billion for the quarter, compared to analysts’ expectations of $20.91 billion. During the same period last year, the firm posted $0.32 earnings per share. Energy Transfer’s revenue for the quarter was up 13.9% on a year-over-year basis. On average, analysts predict that Energy Transfer LP will post 1.45 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a $0.317 dividend. The ex-dividend date was Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.74%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 116.51%.

About Energy Transfer

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.