Encore Global Management LP Makes New Investment in Energy Transfer LP $ET

Encore Global Management LP purchased a new position in Energy Transfer LP (NYSE:ET) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 189,000 shares of the pipeline company’s stock, valued at approximately $3,648,000. Energy Transfer comprises about 2.5% of Encore Global Management LP’s portfolio, making the stock its 8th biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in shares of Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after purchasing an additional 11,844 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Energy Transfer by 62.8% during the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock valued at $391,000 after buying an additional 8,118 shares during the period. Geode Capital Management LLC boosted its position in Energy Transfer by 6.2% during the second quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock worth $2,455,000 after acquiring an additional 7,901 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Energy Transfer by 436.5% during the second quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock worth $76,000 after acquiring an additional 3,400 shares during the last quarter. Finally, Guggenheim Capital LLC grew its stake in Energy Transfer by 5.6% in the 2nd quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock worth $923,000 after acquiring an additional 2,700 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ET. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a report on Friday, June 5th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. TD Cowen reissued a “buy” rating and issued a $24.00 price target (up from $23.00) on shares of Energy Transfer in a research note on Thursday, July 16th. Royal Bank Of Canada restated an “outperform” rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. Finally, Zacks Research raised shares of Energy Transfer from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Three research 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 stock. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of “Buy” and a consensus target price of $23.50.

Energy Transfer Stock Up 1.6%

Shares of ET opened at $20.23 on Wednesday. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $20.70. The company’s fifty day moving average is $19.54 and its two-hundred day moving average is $19.04. The firm has a market cap of $69.62 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.15 and a beta of 0.55. 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 data on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The firm had revenue of $27.77 billion for 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%.The company’s quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 earnings per share. Analysts forecast that Energy Transfer LP will post 1.44 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders 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 6.7%. The ex-dividend date is Friday, August 7th. Energy Transfer’s payout ratio is currently 112.50%.

More Energy Transfer News

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

• Positive Sentiment: Energy Transfer was upgraded to Strong Buy after analysts cited reduced project-execution risk and a raised full-year EBITDA outlook. First-quarter EBITDA reportedly increased about 20% year over year to approximately $4.9 billion, while guidance was raised to as much as $18.6 billion. NGL debottlenecking and the Hugh Brinson Pipeline are progressing ahead of or on schedule, potentially supporting additional earnings growth. Energy Transfer: Strong Buy On A Quiet Multiple, A Loud Guidance Raise
• Positive Sentiment: The partnership announced its nineteenth consecutive quarterly cash-distribution increase, raising the payment to $0.34 per common unit, or $1.36 annualized. The distribution is payable August 19 to unitholders of record August 7, reinforcing ET’s appeal to income-focused investors and signaling confidence in cash-flow growth. Energy Transfer Announces Nineteenth Consecutive Increase in Quarterly Cash Distribution
• Positive Sentiment: Analysts see potential for faster distribution growth, with a projected 2027 payout of approximately $1.416 per unit and a forward yield above 7%. Diversification across midstream businesses and leverage below management’s target range further support the bullish income thesis. Energy Transfer: A 7% Yield With Upsizing Distribution Growth On The Horizon
• Neutral Sentiment: ET is being featured as a low-beta, relatively defensive stock amid market uncertainty and higher oil prices, which may attract investors seeking stability. Zacks.com Featured Highlights
• Negative Sentiment: Leverage of roughly 3.85 times EBITDA remains higher than that of some peers, potentially limiting valuation expansion and keeping investors focused on debt reduction and distribution coverage. Energy Transfer: A 7% Yield With Upsizing Distribution Growth On The Horizon

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.