Excelsior Advisor Network LLC Makes New $901,000 Investment in Energy Transfer LP $ET

Excelsior Advisor Network LLC bought a new stake in Energy Transfer LP (NYSE:ET) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 46,708 shares of the pipeline company’s stock, valued at approximately $901,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ET. Quantinno Capital Management LP boosted its position in shares of Energy Transfer by 9.5% during the 1st quarter. Quantinno Capital Management LP now owns 496,002 shares of the pipeline company’s stock worth $9,573,000 after acquiring an additional 43,073 shares in the last quarter. Lazard Asset Management LLC raised its position in Energy Transfer by 13.3% during the first quarter. Lazard Asset Management LLC now owns 27,772 shares of the pipeline company’s stock valued at $536,000 after purchasing an additional 3,256 shares in the last quarter. Family Manage LLC lifted its stake in Energy Transfer by 40.2% during the first quarter. Family Manage LLC now owns 19,162 shares of the pipeline company’s stock worth $370,000 after purchasing an additional 5,498 shares during the last quarter. Gateway Wealth Partners LLC lifted its stake in Energy Transfer by 114.6% during the first quarter. Gateway Wealth Partners LLC now owns 119,838 shares of the pipeline company’s stock worth $2,313,000 after purchasing an additional 64,000 shares during the last quarter. Finally, Cypress Capital Group acquired a new stake in shares of Energy Transfer in the 1st quarter valued at $359,000. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ET. Zacks Research upgraded Energy Transfer from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Stifel Nicolaus lifted their target price on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. TD Cowen reissued a “buy” rating and issued a $24.00 target price (up from $23.00) on shares of Energy Transfer in a report on Thursday, July 16th. Citigroup reaffirmed a “buy” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. Finally, UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Three 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’s stock. Based on data from MarketBeat, Energy Transfer currently has a consensus rating of “Buy” and an average price target of $23.50.

Energy Transfer Stock Down 2.2%

Shares of NYSE:ET opened at $19.91 on Tuesday. The firm has a market cap of $68.50 billion, a P/E ratio of 16.59, a P/E/G ratio of 1.18 and a beta of 0.55. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $20.70. The business has a fifty day simple moving average of $19.54 and a 200 day simple moving average of $19.02. 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 released its quarterly 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 the consensus estimate of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. Analysts predict that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be paid a dividend of $0.34 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend is Friday, August 7th. Energy Transfer’s payout ratio 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.