Coronation Fund Managers Ltd. Purchases 138,994 Shares of Energy Transfer LP $ET

Coronation Fund Managers Ltd. raised its position in Energy Transfer LP (NYSE:ET) by 23.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 742,278 shares of the pipeline company’s stock after purchasing an additional 138,994 shares during the period. Coronation Fund Managers Ltd.’s holdings in Energy Transfer were worth $14,326,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of ET. Texas Yale Capital Corp. boosted its position in shares of Energy Transfer by 6.1% during the 4th quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock valued at $21,634,000 after purchasing an additional 75,700 shares in the last quarter. North Star Investment Management Corp. increased its holdings in Energy Transfer by 100.1% in the fourth quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company’s stock worth $2,664,000 after purchasing an additional 80,786 shares in the last quarter. Summit Securities Group LLC lifted its stake in Energy Transfer by 179.0% in the first quarter. Summit Securities Group LLC now owns 162,100 shares of the pipeline company’s stock valued at $3,129,000 after buying an additional 104,000 shares during the period. U.S. Capital Wealth Advisors LLC lifted its stake in Energy Transfer by 9.1% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 1,560,110 shares of the pipeline company’s stock valued at $25,726,000 after buying an additional 129,489 shares during the period. Finally, Tectonic Advisors LLC boosted its holdings in shares of Energy Transfer by 8.3% during the 4th quarter. Tectonic Advisors LLC now owns 726,693 shares of the pipeline company’s stock worth $11,983,000 after buying an additional 55,624 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on ET shares. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Zacks Research upgraded shares of Energy Transfer from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 13th. Citigroup reissued a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $23.50.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $20.41 on Thursday. Energy Transfer LP has a twelve month low of $16.18 and a twelve month high of $20.70. The stock’s 50 day moving average is $19.54 and its 200-day moving average is $18.94. 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 firm has a market capitalization of $70.24 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.17 and a beta of 0.55.

Energy Transfer (NYSE:ET) last announced its quarterly 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 business had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. During the same quarter last year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. Sell-side analysts forecast that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

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

Energy Transfer Company 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.