HUB Investment Partners LLC Grows Position in Energy Transfer LP $ET

HUB Investment Partners LLC increased its position in Energy Transfer LP (NYSE:ET) by 33.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 149,992 shares of the pipeline company’s stock after buying an additional 37,501 shares during the quarter. HUB Investment Partners LLC’s holdings in Energy Transfer were worth $2,574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of ET. HHM Wealth Advisors LLC raised its position in Energy Transfer by 54.4% in the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 800 shares during the period. Core Alternative Capital bought a new position in Energy Transfer during the 3rd quarter valued at $46,000. FSC Wealth Advisors LLC bought a new stake in Energy Transfer in the second quarter valued at about $50,000. Golden State Wealth Management LLC lifted its stake in Energy Transfer by 38.9% during the third quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock worth $50,000 after purchasing an additional 817 shares during the last quarter. Finally, Clearstead Trust LLC acquired a new position in shares of Energy Transfer in the 3rd quarter valued at about $50,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

NYSE ET opened at $18.73 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.22 and a debt-to-equity ratio of 1.50. The stock has a market capitalization of $64.44 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 0.99 and a beta of 0.63. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $19.30. The company has a 50 day moving average price of $17.92 and a two-hundred day moving average price of $17.26.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.09). Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The business had revenue of $25.32 billion for the quarter, compared to the consensus estimate of $23.56 billion. During the same quarter in the prior year, the business posted $0.29 EPS. The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were given a $0.335 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend was Friday, February 6th. Energy Transfer’s payout ratio is presently 110.74%.

Analysts Set New Price Targets

A number of research firms have issued reports on ET. JPMorgan Chase & Co. cut their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Morgan Stanley decreased their price target on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 2nd. Royal Bank Of Canada upgraded shares of Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Energy Transfer in a research note on Wednesday, December 24th. Finally, TD Cowen increased their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average price target of $21.20.

About Energy Transfer

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.