76,187 Shares in Energy Transfer LP $ET Purchased by Canal Capital Management LLC

Canal Capital Management LLC acquired a new position in shares of Energy Transfer LP (NYSE:ET) in the 1st quarter, HoldingsChannel reports. The firm acquired 76,187 shares of the pipeline company’s stock, valued at approximately $1,470,000.

A number of other hedge funds have also made changes to their positions in ET. Texas Yale Capital Corp. raised its stake in shares of Energy Transfer by 6.1% in the 4th quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock valued at $21,634,000 after acquiring an additional 75,700 shares during the period. North Star Investment Management Corp. boosted its position in shares of Energy Transfer by 100.1% during the 4th quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company’s stock worth $2,664,000 after purchasing an additional 80,786 shares during the period. Avior Wealth Management LLC boosted its position in shares of Energy Transfer by 436.6% during the 4th quarter. Avior Wealth Management LLC now owns 90,160 shares of the pipeline company’s stock worth $1,487,000 after purchasing an additional 73,359 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Energy Transfer by 2.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company’s stock valued at $375,777,000 after purchasing an additional 544,944 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its holdings in Energy Transfer by 9.1% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 1,560,110 shares of the pipeline company’s stock valued at $25,726,000 after purchasing an additional 129,489 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.1%

Shares of NYSE:ET opened at $19.32 on Friday. The company has a market capitalization of $66.47 billion, a price-to-earnings ratio of 16.10, a price-to-earnings-growth ratio of 1.12 and a beta of 0.55. The company has a 50 day moving average of $19.46 and a two-hundred day moving average of $18.59. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $20.70. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last announced 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 firm had revenue of $27.77 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. As a group, analysts forecast that Energy Transfer LP will post 1.43 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $0.3375 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a yield of 7.0%. Energy Transfer’s payout ratio is 112.50%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a report on Friday, June 5th. Truist Financial assumed coverage on shares of Energy Transfer in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 target price on the stock. Jefferies Financial Group raised shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Tuesday, May 26th. JPMorgan Chase & Co. boosted their price target on shares of Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $23.45.

Energy Transfer Company 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.