Southland Equity Partners LLC Buys New Position in Energy Transfer LP (NYSE:ET)

Southland Equity Partners LLC bought a new stake in Energy Transfer LP (NYSE:ET) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 15,912 shares of the pipeline company’s stock, valued at approximately $250,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Northwest Financial Advisors acquired a new position in shares of Energy Transfer during the 4th quarter valued at about $25,000. Rise Advisors LLC increased its stake in shares of Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 927 shares during the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Energy Transfer during the 4th quarter valued at about $33,000. Harbor Investment Advisory LLC increased its stake in shares of Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 750 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Energy Transfer during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ET. Mizuho upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Stifel Nicolaus boosted their target price on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. UBS Group boosted their target price on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Morgan Stanley boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.29.

Energy Transfer Stock Up 1.2 %

NYSE ET opened at $15.92 on Tuesday. The stock has a market cap of $53.63 billion, a PE ratio of 14.60, a P/E/G ratio of 0.43 and a beta of 1.63. Energy Transfer LP has a fifty-two week low of $12.46 and a fifty-two week high of $16.40. The business has a 50 day moving average price of $15.68 and a two-hundred day moving average price of $14.94. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The company had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, sell-side analysts predict that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were issued a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.97%. The ex-dividend date of this dividend was Friday, May 10th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 116.51%.

Energy Transfer Company Profile

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.