Stuart Investment Advisors Inc. Buys Shares of 54,898 Energy Transfer LP $ET

Stuart Investment Advisors Inc. purchased a new position in shares of Energy Transfer LP (NYSE:ET) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 54,898 shares of the pipeline company’s stock, valued at approximately $1,060,000. Energy Transfer accounts for 0.5% of Stuart Investment Advisors Inc.’s investment portfolio, making the stock its 11th biggest holding.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Morgan Stanley boosted its stake in Energy Transfer by 41.6% during the fourth quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock worth $1,423,256,000 after buying an additional 25,366,594 shares during the period. CIBC Bancorp USA Inc. acquired a new position in shares of Energy Transfer in the 3rd quarter worth approximately $264,309,000. Alps Advisors Inc. lifted its holdings in shares of Energy Transfer by 8.0% in the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock worth $1,382,573,000 after acquiring an additional 6,192,066 shares during the last quarter. Invesco Ltd. boosted its position in shares of Energy Transfer by 3.2% during the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock worth $992,923,000 after purchasing an additional 1,773,042 shares during the period. Finally, Jump Financial LLC boosted its position in shares of Energy Transfer by 128.0% during the 4th quarter. Jump Financial LLC now owns 2,585,439 shares of the pipeline company’s stock worth $42,634,000 after purchasing an additional 1,451,613 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Shares of ET stock opened at $19.16 on Friday. The firm has a 50 day moving average of $19.43 and a two-hundred day moving average of $18.50. The stock has a market capitalization of $65.92 billion, a PE ratio of 15.96, a P/E/G ratio of 1.10 and a beta of 0.55. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $20.70.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The company had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm’s revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. On average, research 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. Stockholders of record on Friday, May 8th were paid a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 7.0%. The ex-dividend date was Friday, May 8th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio (DPR) is 112.50%.

Analyst Ratings Changes

ET has been the topic of a number of research analyst reports. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research report on Friday, June 5th. Stifel Nicolaus lifted their price objective on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Barclays reaffirmed an “overweight” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 14th. Finally, Truist Financial started coverage on shares of Energy Transfer in a research note on Tuesday, March 24th. They set a “buy” rating and a $23.00 price target on the stock. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $23.45.

Energy Transfer Company 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.