332,732 Shares in Energy Transfer LP $ET Bought by SageGuard Financial Group LLC

SageGuard Financial Group LLC bought a new position in Energy Transfer LP (NYSE:ET) during the fourth quarter, Holdings Channel reports. The fund bought 332,732 shares of the pipeline company’s stock, valued at approximately $5,487,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Evergreen Capital Management LLC boosted its holdings in shares of Energy Transfer by 2.2% in the fourth quarter. Evergreen Capital Management LLC now owns 877,757 shares of the pipeline company’s stock worth $14,474,000 after buying an additional 19,030 shares during the period. Private Wealth Partners LLC boosted its holdings in shares of Energy Transfer by 26.1% in the fourth quarter. Private Wealth Partners LLC now owns 96,500 shares of the pipeline company’s stock worth $1,591,000 after buying an additional 20,000 shares during the period. Legacy Advisors LLC boosted its holdings in shares of Energy Transfer by 7.0% in the fourth quarter. Legacy Advisors LLC now owns 108,912 shares of the pipeline company’s stock worth $1,796,000 after buying an additional 7,165 shares during the period. Purus Wealth Management LLC boosted its holdings in shares of Energy Transfer by 31.2% in the fourth quarter. Purus Wealth Management LLC now owns 15,500 shares of the pipeline company’s stock worth $256,000 after buying an additional 3,682 shares during the period. Finally, Waterfront Wealth Inc. boosted its holdings in shares of Energy Transfer by 2.9% in the fourth quarter. Waterfront Wealth Inc. now owns 44,366 shares of the pipeline company’s stock worth $803,000 after buying an additional 1,231 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Price Performance

Shares of ET opened at $18.92 on Tuesday. The company has a market capitalization of $65.10 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.05 and a beta of 0.62. Energy Transfer LP has a fifty-two week low of $15.80 and a fifty-two week high of $19.85. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.22 and a quick ratio of 0.90. The business’s 50-day moving average is $18.86 and its 200-day moving average is $17.60.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The company had revenue of $25.32 billion for the quarter, compared to analysts’ expectations of $23.56 billion. During the same quarter in the prior year, the firm earned $0.29 earnings per share. The company’s revenue was up 29.6% on a year-over-year basis. Equities research analysts expect that Energy Transfer LP will post 1.48 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were issued a dividend of $0.335 per share. The ex-dividend date was Friday, February 6th. This represents a $1.34 annualized dividend and a dividend yield of 7.1%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is presently 110.74%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ET shares. TD Cowen increased their target price on Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Wednesday, January 7th. Barclays restated an “overweight” rating and issued a $22.00 target price (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Truist Financial started coverage on Energy Transfer in a report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 target price for the company. Finally, Wells Fargo & Company increased their target price on Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and a consensus target price of $21.60.

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.