Resolute Capital LLC Invests $1.27 Million in Energy Transfer LP $ET

Resolute Capital LLC bought a new position in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 76,775 shares of the pipeline company’s stock, valued at approximately $1,266,000. Energy Transfer accounts for about 0.5% of Resolute Capital LLC’s holdings, making the stock its 20th largest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Basepoint Wealth LLC acquired a new stake in shares of Energy Transfer in the fourth quarter worth $25,000. Gables Capital Management Inc. boosted its position in shares of 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 buying an additional 600 shares during the period. Financial Life Planners acquired a new stake in shares of Energy Transfer in the third quarter worth $34,000. Navalign LLC acquired a new stake in shares of Energy Transfer in the fourth quarter worth $37,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of Energy Transfer in the fourth quarter worth $47,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ET. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. TD Cowen reaffirmed a “buy” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research report on Wednesday, May 13th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Scotiabank restated an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Finally, Barclays restated an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $23.45.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $19.16 on Monday. The business’s 50-day moving average price is $19.43 and its two-hundred day moving average price is $18.17. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. Energy Transfer LP has a one year low of $16.18 and a one year high of $20.70. The company has a market capitalization of $65.93 billion, a P/E ratio of 15.97, a price-to-earnings-growth ratio of 1.12 and a beta of 0.55.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 EPS 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 firm had revenue of $27.77 billion during the quarter, compared to analysts’ expectations of $25.78 billion. During the same quarter last year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. Analysts anticipate that Energy Transfer LP will post 1.41 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

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

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.