TMB Capital Partners LLC Makes New $689,000 Investment in Energy Transfer LP $ET

TMB Capital Partners LLC bought a new position in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 41,766 shares of the pipeline company’s stock, valued at approximately $689,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Basepoint Wealth LLC bought a new position in shares of Energy Transfer during the fourth quarter valued at about $25,000. Gables Capital Management Inc. grew its position 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 in the last quarter. Sarver Vrooman Wealth Advisors bought a new stake in Energy Transfer in the 4th quarter worth about $32,000. Financial Life Planners bought a new stake in Energy Transfer in the 3rd quarter worth about $34,000. Finally, Navalign LLC purchased a new stake in Energy Transfer in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET stock opened at $18.77 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The firm has a market cap of $64.60 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.09 and a beta of 0.55. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $20.70. The firm’s 50-day simple moving average is $19.43 and its two-hundred day simple moving average is $18.42.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The company had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. During the same period in the prior year, the company earned $0.36 earnings per share. The firm’s revenue was up 32.1% on a year-over-year basis. As a group, equities analysts forecast that Energy Transfer LP will post 1.43 earnings per share for the current 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 paid a $0.3375 dividend. The ex-dividend date was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 7.2%. Energy Transfer’s dividend payout ratio (DPR) is currently 112.50%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Truist Financial assumed coverage on shares of Energy Transfer in a research report on Tuesday, March 24th. They set a “buy” rating and a $23.00 target price on the stock. Citigroup reaffirmed a “buy” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. Morgan Stanley increased their price target on Energy Transfer from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 27th. Jefferies Financial Group upgraded Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. upped their price objective on Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $23.45.

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.