HUB Investment Partners LLC Has $2.57 Million Position in Energy Transfer LP $ET

HUB Investment Partners LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 33.3% in the third quarter, Holdings Channel reports. The firm owned 149,992 shares of the pipeline company’s stock after acquiring an additional 37,501 shares during the period. HUB Investment Partners LLC’s holdings in Energy Transfer were worth $2,574,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. HHM Wealth Advisors LLC grew its stake in Energy Transfer by 54.4% in the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after buying an additional 800 shares during the last quarter. Core Alternative Capital bought a new position in shares of Energy Transfer in the third quarter worth about $46,000. FSC Wealth Advisors LLC acquired a new position in shares of Energy Transfer during the 2nd quarter worth about $50,000. Golden State Wealth Management LLC lifted its position in shares of Energy Transfer by 38.9% during the 3rd quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock worth $50,000 after purchasing an additional 817 shares during the last quarter. Finally, Clearstead Trust LLC bought a new stake in Energy Transfer during the 3rd quarter valued at approximately $50,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ET. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a research report on Monday, December 15th. JPMorgan Chase & Co. dropped their target price on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Monday, November 24th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. Barclays restated an “overweight” rating and issued a $22.00 price target (down from $25.00) on shares of Energy Transfer in a research report on Monday, January 12th. Finally, Morgan Stanley dropped their price objective on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $21.20.

Energy Transfer Stock Up 0.3%

Shares of NYSE:ET opened at $18.73 on Friday. The company has a market capitalization of $64.44 billion, a PE ratio of 15.48, a P/E/G ratio of 0.99 and a beta of 0.63. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. The company’s fifty day moving average is $17.92 and its 200-day moving average is $17.26. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $19.30.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.09). The firm had revenue of $25.32 billion during the quarter, compared to analyst estimates of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. Energy Transfer’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 earnings per share. Equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were issued a dividend of $0.335 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.34 dividend on an annualized basis and a yield of 7.2%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is 110.74%.

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.