Corps Capital Advisors LLC Acquires New Shares in Energy Transfer LP (NYSE:ET)

Corps Capital Advisors LLC bought a new position in Energy Transfer LP (NYSE:ET) in the fourth quarter, HoldingsChannel reports. The fund bought 189,152 shares of the pipeline company’s stock, valued at approximately $3,705,000. Energy Transfer makes up about 3.8% of Corps Capital Advisors LLC’s portfolio, making the stock its 5th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Energy Transfer by 173.1% during the third quarter. Blue Trust Inc. now owns 11,783 shares of the pipeline company’s stock valued at $191,000 after purchasing an additional 7,468 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Energy Transfer by 37.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 47,192 shares of the pipeline company’s stock worth $757,000 after purchasing an additional 12,787 shares during the period. Signaturefd LLC grew its position in Energy Transfer by 12.6% in the 3rd quarter. Signaturefd LLC now owns 27,419 shares of the pipeline company’s stock worth $440,000 after purchasing an additional 3,075 shares during the period. Eastern Bank purchased a new stake in Energy Transfer during the 3rd quarter valued at $109,000. Finally, Leo Wealth LLC lifted its holdings in shares of Energy Transfer by 197.5% during the 3rd quarter. Leo Wealth LLC now owns 37,575 shares of the pipeline company’s stock valued at $603,000 after buying an additional 24,944 shares during the period. Institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

ET has been the subject of several research analyst reports. Wells Fargo & Company lifted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada upped their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Stifel Nicolaus raised their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Barclays boosted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Finally, The Goldman Sachs Group increased their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus target price of $21.18.

Energy Transfer Price Performance

NYSE:ET opened at $20.14 on Thursday. The business’s 50-day simple moving average is $19.85 and its two-hundred day simple moving average is $17.86. Energy Transfer LP has a 52 week low of $14.52 and a 52 week high of $21.45. The stock has a market cap of $68.94 billion, a PE ratio of 15.73, a P/E/G ratio of 0.52 and a beta of 1.69. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.66% and a net margin of 5.74%. As a group, analysts forecast that Energy Transfer LP will post 1.47 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 6.46%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

About Energy Transfer

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.