38,277 Shares in Energy Transfer LP $ET Bought by Verus Capital Partners LLC

Verus Capital Partners LLC purchased a new stake in shares of Energy Transfer LP (NYSE:ET) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 38,277 shares of the pipeline company’s stock, valued at approximately $631,000.

A number of other hedge funds also recently bought and sold shares of the company. Mountain Capital Investment Advisors Inc. lifted its stake in Energy Transfer by 4.9% in the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock worth $216,000 after purchasing an additional 560 shares during the last quarter. Marks Wealth LLC boosted its holdings in Energy Transfer by 4.7% during the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock valued at $207,000 after acquiring an additional 560 shares during the period. SP Asset Management LLC grew its position in Energy Transfer by 2.0% during the 4th quarter. SP Asset Management LLC now owns 30,631 shares of the pipeline company’s stock worth $505,000 after acquiring an additional 589 shares during the last quarter. Gables Capital Management Inc. increased its stake in 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 purchasing an additional 600 shares during the period. Finally, Fiduciary Financial Group LLC increased its stake in Energy Transfer by 2.2% in the 4th quarter. Fiduciary Financial Group LLC now owns 28,106 shares of the pipeline company’s stock worth $463,000 after purchasing an additional 607 shares during the period. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Jefferies Financial Group raised Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Tuesday, May 26th. JPMorgan Chase & Co. boosted their price objective on shares of Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Finally, UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Buy” and an average target price of $23.45.

Energy Transfer Stock Up 0.4%

NYSE:ET opened at $19.63 on Friday. The company has a market capitalization of $67.55 billion, a PE ratio of 16.36, a P/E/G ratio of 1.13 and a beta of 0.55. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $20.70. The firm’s 50-day moving average price is $19.47 and its 200-day moving average price is $18.25.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The business had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. Energy Transfer’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, equities analysts predict that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a dividend of $0.3375 per share. The ex-dividend date was Friday, May 8th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a dividend yield of 6.9%. Energy Transfer’s dividend 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.