SG Americas Securities LLC Has $40.01 Million Position in Energy Transfer LP $ET

SG Americas Securities LLC grew its position in Energy Transfer LP (NYSE:ET) by 6.8% in the first quarter, HoldingsChannel.com reports. The fund owned 2,073,255 shares of the pipeline company’s stock after buying an additional 132,755 shares during the period. SG Americas Securities LLC’s holdings in Energy Transfer were worth $40,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ET. Basepoint Wealth LLC bought a new stake in shares of Energy Transfer in the 4th quarter valued at about $25,000. Gables Capital Management Inc. grew its holdings in Energy Transfer by 60.0% during the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 600 shares during the period. Sarver Vrooman Wealth Advisors acquired a new position in Energy Transfer during the fourth quarter worth approximately $32,000. Financial Life Planners acquired a new position in Energy Transfer during the third quarter worth approximately $34,000. Finally, Navalign LLC bought a new stake in Energy Transfer in the fourth quarter valued at approximately $37,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Trading Up 2.1%

Shares of ET stock opened at $19.29 on Wednesday. The firm has a 50 day moving average price of $19.42 and a two-hundred day moving average price of $18.46. 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 market capitalization of $66.38 billion, a PE ratio of 16.07, a price-to-earnings-growth 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 quarterly earnings data 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). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The company’s revenue was up 32.1% on a year-over-year basis. As a group, analysts predict that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $0.3375 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. This represents a $1.35 annualized dividend and a yield of 7.0%. Energy Transfer’s dividend payout ratio is presently 112.50%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ET shares. Jefferies Financial Group raised Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday, May 26th. Stifel Nicolaus increased their price target on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Raymond James Financial restated a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Truist Financial assumed coverage on Energy Transfer in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price target for the company. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Two 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. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target 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.