Global Assets Advisory LLC Takes Position in Energy Transfer LP (NYSE:ET)

Global Assets Advisory LLC bought a new stake in Energy Transfer LP (NYSE:ET) during the first quarter, HoldingsChannel.com reports. The fund bought 12,944 shares of the pipeline company’s stock, valued at approximately $204,000.

A number of other large investors have also added to or reduced their stakes in ET. First Reserve GP XIII Ltd acquired a new stake in Energy Transfer during the 4th quarter valued at $322,097,000. Alps Advisors Inc. grew its holdings in Energy Transfer by 14.5% during the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock valued at $1,033,541,000 after purchasing an additional 9,341,798 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Energy Transfer by 38.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock valued at $353,576,000 after purchasing an additional 7,097,074 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Energy Transfer by 18.5% during the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after purchasing an additional 3,976,676 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Energy Transfer by 1,447.6% during the 4th quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock valued at $518,460,000 after purchasing an additional 3,514,195 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $16.03 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The stock has a market cap of $54.02 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 0.44 and a beta of 1.63. Energy Transfer LP has a 52 week low of $12.46 and a 52 week high of $16.40. The company’s 50-day moving average price is $15.71 and its two-hundred day moving average price is $14.97.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.45 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were paid a $0.317 dividend. This represents a $1.27 annualized dividend and a yield of 7.91%. The ex-dividend date of this dividend was Friday, May 10th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 116.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Stifel Nicolaus increased their price objective 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 lifted their target price on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Morgan Stanley increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Finally, Mizuho lifted 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. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.29.

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.