Energy Transfer LP $ET is Alps Advisors Inc.’s 2nd Largest Position

Alps Advisors Inc. boosted its holdings in Energy Transfer LP (NYSE:ET) by 4.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,651,021 shares of the pipeline company’s stock after purchasing an additional 3,366,734 shares during the quarter. Energy Transfer makes up 7.4% of Alps Advisors Inc.’s portfolio, making the stock its 2nd biggest holding. Alps Advisors Inc. owned approximately 2.26% of Energy Transfer worth $1,332,492,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CNB Bank lifted its holdings in shares of Energy Transfer by 111.1% during the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 1,000 shares during the period. HHM Wealth Advisors LLC grew its holdings in Energy Transfer by 54.4% in the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 800 shares during the period. Core Alternative Capital acquired a new position in Energy Transfer during the third quarter worth approximately $46,000. FSC Wealth Advisors LLC purchased a new position in Energy Transfer during the second quarter worth approximately $50,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Energy Transfer by 38.9% in the 3rd quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock valued at $50,000 after purchasing an additional 817 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kelcy L. Warren bought 1,000,000 shares of Energy Transfer stock in a transaction dated Wednesday, November 19th. The shares were acquired at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the transaction, the director owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.28% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. Barclays reissued an “overweight” rating and set a $22.00 price target (down previously from $25.00) on shares of Energy Transfer in a research report on Monday, January 12th. JPMorgan Chase & Co. dropped their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Scotiabank restated an “outperform” rating on shares of Energy Transfer in a report on Friday, January 16th. Finally, Morgan Stanley decreased their target price on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, December 2nd. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Energy Transfer Trading Down 1.5%

NYSE:ET opened at $17.92 on Friday. The business’s 50-day moving average is $17.06 and its two-hundred day moving average is $17.12. The firm has a market capitalization of $61.53 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $20.55. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.41 and a quick ratio of 1.14.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The company had revenue of $19.95 billion during the quarter, compared to analyst estimates of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. Energy Transfer’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. Research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Friday, February 6th will be given a $0.335 dividend. This represents a $1.34 annualized dividend and a yield of 7.5%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, February 6th. Energy Transfer’s dividend payout ratio is 106.40%.

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.