Focus Financial Network Inc. ADV Buys Shares of 20,842 Energy Transfer LP (NYSE:ET)



Focus Financial Network Inc. ADV acquired a new stake in Energy Transfer LP (NYSE:ET – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 20,842 shares of the pipeline company’s stock, valued at approximately $288,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Activest Wealth Management raised its holdings in shares of Energy Transfer by 33.9% in the 4th quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock valued at $40,000 after buying an additional 736 shares during the period. Veracity Capital LLC grew its stake in Energy Transfer by 2.3% during the 4th quarter. Veracity Capital LLC now owns 32,203 shares of the pipeline company’s stock worth $444,000 after purchasing an additional 738 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 750 shares in the last quarter. Ethos Financial Group LLC grew its stake in Energy Transfer by 5.0% during the 4th quarter. Ethos Financial Group LLC now owns 15,866 shares of the pipeline company’s stock worth $219,000 after purchasing an additional 753 shares in the last quarter. Finally, Bahl & Gaynor Inc. grew its stake in Energy Transfer by 0.3% during the 4th quarter. Bahl & Gaynor Inc. now owns 228,569 shares of the pipeline company’s stock worth $3,154,000 after purchasing an additional 769 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Down 1.8 %

Energy Transfer stock opened at $15.39 on Tuesday. Energy Transfer LP has a fifty-two week low of $12.46 and a fifty-two week high of $16.40. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The company has a market capitalization of $51.86 billion, a P/E ratio of 14.12, a PEG ratio of 0.43 and a beta of 1.63. The stock has a 50-day simple moving average of $15.74 and a 200-day simple moving average of $14.75.

Energy Transfer (NYSE:ET – Get Free Report) last posted its 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 firm had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. Equities research analysts expect that Energy Transfer LP will post 1.45 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a $0.317 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a dividend yield of 8.24%. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s payout ratio is presently 116.51%.

Analyst Ratings Changes

Several research analysts recently commented on ET shares. Stifel Nicolaus boosted their target price on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Citigroup boosted their target price on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Mizuho reaffirmed a “buy” rating and set a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Finally, UBS Group upped their price objective on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.43.

Read Our Latest Report on ET

About Energy Transfer

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)



Receive News & Ratings for Energy Transfer Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Energy Transfer and related companies with MarketBeat.com’s FREE daily email newsletter.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *