Corient Private Wealth LLC Buys 26,575 Shares of Energy Transfer LP (NYSE:ET)

Corient Private Wealth LLC lifted its stake in shares of Energy Transfer LP (NYSE:ET) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,624,151 shares of the pipeline company’s stock after purchasing an additional 26,575 shares during the quarter. Corient Private Wealth LLC owned about 0.05% of Energy Transfer worth $22,413,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Alps Advisors Inc. increased its stake in Energy Transfer by 14.5% in 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 buying an additional 9,341,798 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 worth $353,576,000 after purchasing an additional 7,097,074 shares during the last quarter. Clearbridge Investments LLC increased its stake in shares of Energy Transfer by 18.5% during the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock worth $350,845,000 after purchasing an additional 3,976,676 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of 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 worth $518,460,000 after purchasing an additional 3,514,195 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Energy Transfer by 13.3% during the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after purchasing an additional 3,368,427 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Down 2.0 %

Shares of NYSE:ET opened at $15.41 on Friday. The firm has a fifty day moving average price of $15.75 and a two-hundred day moving average price of $14.62. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. Energy Transfer LP has a one year low of $12.31 and a one year high of $16.40. The company has a market cap of $51.93 billion, a price-to-earnings ratio of 14.14 and a beta of 1.63.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS 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 firm had revenue of $21.63 billion during the quarter, compared to the consensus estimate of $20.91 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. 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. Stockholders of record on Monday, May 13th were issued a dividend of $0.317 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.23%. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s payout ratio is currently 116.51%.

Analyst Upgrades and Downgrades

Several research firms recently commented on ET. Stifel Nicolaus raised their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Mizuho reaffirmed a “buy” rating and issued a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Citigroup raised their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, UBS Group raised their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.43.

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.