FFG Partners LLC Boosts Holdings in Energy Transfer LP $ET

FFG Partners LLC grew its stake in shares of Energy Transfer LP (NYSE:ET) by 4.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 889,071 shares of the pipeline company’s stock after buying an additional 34,478 shares during the period. Energy Transfer makes up 6.8% of FFG Partners LLC’s investment portfolio, making the stock its 4th biggest holding. FFG Partners LLC’s holdings in Energy Transfer were worth $17,159,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ET. Mountain Capital Investment Advisors Inc. grew its position in Energy Transfer by 4.9% during the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock worth $216,000 after buying an additional 560 shares in the last quarter. Marks Wealth LLC raised its holdings in Energy Transfer by 4.7% in the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock valued at $207,000 after acquiring an additional 560 shares in the last quarter. Avos Capital Management LLC raised its holdings in Energy Transfer by 0.8% in the 4th quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock valued at $1,265,000 after acquiring an additional 583 shares in the last quarter. SP Asset Management LLC lifted its position in shares of Energy Transfer by 2.0% in the 4th quarter. SP Asset Management LLC now owns 30,631 shares of the pipeline company’s stock worth $505,000 after acquiring an additional 589 shares during the period. Finally, Gables Capital Management Inc. lifted its position in shares of Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 600 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.6%

Shares of ET opened at $18.86 on Tuesday. 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 company has a 50-day moving average price of $19.42 and a two-hundred day moving average price of $18.45. The stock has a market cap of $64.91 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.09 and a beta of 0.55. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $20.70.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The company had revenue of $27.77 billion during 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 period in the previous year, the company posted $0.36 earnings per share. Equities analysts predict that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a dividend of $0.3375 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a dividend yield of 7.2%. Energy Transfer’s dividend payout ratio (DPR) is 112.50%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Citigroup restated a “buy” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 7th. Wells Fargo & Company upped their target price on Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. JPMorgan Chase & Co. raised their target price on Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Finally, UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $23.45.

About Energy Transfer

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.