Accredited Investors Inc. lowered its stake in Energy Transfer LP (NYSE:ET) by 19.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,397 shares of the pipeline company’s stock after selling 3,840 shares during the period. Accredited Investors Inc.’s holdings in Energy Transfer were worth $126,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Miller Howard Investments Inc. NY increased its position in shares of Energy Transfer by 27.9% in the first quarter. Miller Howard Investments Inc. NY now owns 4,368,708 shares of the pipeline company’s stock worth $33,552,000 after purchasing an additional 952,957 shares during the period. Alhambra Investment Partners LLC acquired a new stake in Energy Transfer in the first quarter valued at about $88,000. Bogart Wealth LLC boosted its stake in Energy Transfer by 33.6% in the first quarter. Bogart Wealth LLC now owns 12,004 shares of the pipeline company’s stock valued at $92,000 after buying an additional 3,019 shares in the last quarter. Crescent Capital Consulting LLC acquired a new stake in Energy Transfer in the first quarter valued at about $28,000. Finally, Mcdonald Partners LLC acquired a new stake in Energy Transfer in the first quarter valued at about $394,000. Institutional investors own 36.42% of the company’s stock.
Several analysts recently weighed in on ET shares. UBS Group raised their price objective on Energy Transfer from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, February 25th. Piper Sandler raised Energy Transfer from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $7.00 to $9.00 in a research note on Monday, March 1st. Credit Suisse Group lifted their price target on Energy Transfer from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Monday, March 8th. Zacks Investment Research raised Energy Transfer from a “sell” rating to a “hold” rating in a research note on Tuesday, March 23rd. Finally, Barclays raised Energy Transfer from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $9.00 to $10.00 in a research note on Tuesday, January 12th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $10.25.
Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, February 16th. The pipeline company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.07). The business had revenue of $10.03 billion during the quarter, compared to the consensus estimate of $10.33 billion. Energy Transfer had a positive return on equity of 8.23% and a negative net margin of 0.64%. On average, research analysts predict that Energy Transfer LP will post 0.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 19th. Stockholders of record on Monday, February 8th were issued a dividend of $0.1525 per share. The ex-dividend date of this dividend was Friday, February 5th. This represents a $0.61 annualized dividend and a dividend yield of 7.59%. Energy Transfer’s dividend payout ratio is 42.07%.
Energy Transfer Profile
Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,340 miles of interstate natural gas pipelines. It also sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
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