Leo Wealth LLC Invests $678,000 in Energy Transfer LP $ET

Leo Wealth LLC acquired a new position in shares of Energy Transfer LP (NYSE:ET) in the 4th quarter, Holdings Channel.com reports. The fund acquired 41,142 shares of the pipeline company’s stock, valued at approximately $678,000.

Several other large investors also recently made changes to their positions in ET. Brighton Jones LLC increased its position in shares of Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after acquiring an additional 11,844 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Energy Transfer by 62.8% during the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock worth $391,000 after acquiring an additional 8,118 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Energy Transfer by 6.2% during the 2nd quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock worth $2,455,000 after acquiring an additional 7,901 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Energy Transfer by 436.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock worth $76,000 after acquiring an additional 3,400 shares in the last quarter. Finally, CW Advisors LLC grew its stake in shares of Energy Transfer by 4.4% during the 2nd quarter. CW Advisors LLC now owns 40,778 shares of the pipeline company’s stock worth $739,000 after acquiring an additional 1,711 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE ET opened at $18.99 on Tuesday. 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 company has a market capitalization of $65.32 billion, a P/E ratio of 15.69, a P/E/G ratio of 1.06 and a beta of 0.62. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $19.85. The firm has a 50-day moving average price of $18.72 and a two-hundred day moving average price of $17.48.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $23.56 billion. During the same period in the prior year, the firm earned $0.29 EPS. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. Analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were given a dividend of $0.335 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend was Friday, February 6th. Energy Transfer’s dividend payout ratio (DPR) is currently 110.74%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ET shares. Truist Financial started coverage on shares of Energy Transfer in a research report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 target price for the company. Wells Fargo & Company raised their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. Jefferies Financial Group reissued a “hold” rating on shares of Energy Transfer in a research note on Wednesday, February 18th. Finally, Morgan Stanley raised their target price on shares of Energy Transfer from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $21.60.

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.