Matrix Private Capital Group LLC Invests $873,000 in Energy Transfer LP $ET

Matrix Private Capital Group LLC acquired a new position in Energy Transfer LP (NYSE:ET) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 45,243 shares of the pipeline company’s stock, valued at approximately $873,000.

Several other institutional investors have also added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new position in Energy Transfer in the 4th quarter valued at $25,000. Gables Capital Management Inc. increased its stake in Energy Transfer by 60.0% in the fourth 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. Sarver Vrooman Wealth Advisors bought a new stake in shares of Energy Transfer during the fourth quarter worth $32,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Energy Transfer during the first quarter worth $35,000. Finally, Navalign LLC purchased a new stake in shares of Energy Transfer during the fourth quarter valued at $37,000. Institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ET. Stifel Nicolaus lifted their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Citigroup restated a “buy” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research report on Friday, June 5th. JPMorgan Chase & Co. lifted their price target on shares of Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $23.50.

More Energy Transfer News

Here are the key news stories impacting Energy Transfer this week:

• Positive Sentiment: ET was featured as a low-beta stock that can help reduce portfolio risk, with stable fee-based revenues and growth projects supporting its defensive appeal. 3 Low-Beta Stocks to Minimize Portfolio Risk: LQDA, ET & PBF
• Positive Sentiment: Analysts and market commentary say Energy Transfer may be undervalued after raising EBITDA guidance, which could support the stock’s upside potential. Energy Transfer (ET) Could Be 13% Undervalued Following Raised EBITDA Guidance
• Positive Sentiment: The company affirmed its income appeal by announcing a quarterly cash distribution on Series I preferred units, signaling continued cash returns to investors. Energy Transfer LP Announces Cash Distribution on Series I Preferred Units
• Positive Sentiment: ET is being highlighted as a high-yield stock with strong analyst support and room to run, reinforcing investor interest in the name. 5 High-Yield Stocks With Analyst Support and Room to Run
• Neutral Sentiment: Several articles note that Zacks users have been searching for ET more frequently, suggesting rising attention but not a clear fundamental catalyst. Energy Transfer LP (ET) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: ET was also mentioned in broader industry pieces on pipeline MLPs and dividend stocks, which support the bullish case but do not add a company-specific catalyst. 3 Oil Pipeline MLP Stocks Riding on Favorable Industry Trends

Energy Transfer Stock Down 0.2%

Shares of Energy Transfer stock opened at $20.38 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The company has a market cap of $70.11 billion, a P/E ratio of 16.98, a PEG ratio of 1.18 and a beta of 0.55. The firm’s 50 day moving average price is $19.55 and its 200-day moving average price is $18.97. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $20.70.

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

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a $0.3375 dividend. The ex-dividend date was Friday, May 8th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.6%. Energy Transfer’s dividend payout ratio (DPR) is currently 112.50%.

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.