EJF Capital LLC purchased a new position in shares of Energy Transfer LP (NYSE:ET) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 35,000 shares of the pipeline company’s stock, valued at approximately $269,000.
Several other hedge funds also recently made changes to their positions in ET. Crescent Capital Consulting LLC purchased a new position in shares of Energy Transfer in the 1st quarter valued at approximately $28,000. Concord Wealth Partners purchased a new position in shares of Energy Transfer in the 4th quarter valued at approximately $35,000. Interactive Financial Advisors grew its stake in shares of Energy Transfer by 82.5% in the 1st quarter. Interactive Financial Advisors now owns 4,642 shares of the pipeline company’s stock valued at $36,000 after purchasing an additional 2,098 shares during the last quarter. Albion Financial Group UT purchased a new position in shares of Energy Transfer in the 4th quarter valued at approximately $40,000. Finally, Atlas Private Wealth Advisors grew its stake in shares of Energy Transfer by 97.2% in the 1st quarter. Atlas Private Wealth Advisors now owns 6,086 shares of the pipeline company’s stock valued at $47,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors own 37.58% of the company’s stock.
ET has been the subject of several recent analyst reports. Credit Suisse Group raised their price target on Energy Transfer from $11.00 to $13.00 and gave the company an “outperform” rating in a report on Thursday, May 13th. Raymond James raised their price target on Energy Transfer from $12.00 to $13.00 and gave the company a “strong-buy” rating in a report on Wednesday. Wolfe Research raised Energy Transfer from a “peer perform” rating to an “outperform” rating and raised their price target for the company from $12.00 to $13.00 in a report on Friday, July 16th. Zacks Investment Research raised Energy Transfer from a “hold” rating to a “strong-buy” rating and set a $11.00 price target for the company in a report on Tuesday. Finally, Evercore ISI raised Energy Transfer from an “in-line” rating to an “outperform” rating in a report on Wednesday, April 28th. Fourteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $12.17.
Shares of NYSE:ET opened at $9.97 on Thursday. The stock has a market capitalization of $26.95 billion, a P/E ratio of 8.04 and a beta of 2.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.77 and a current ratio of 1.01. Energy Transfer LP has a 52 week low of $4.98 and a 52 week high of $11.55. The firm has a fifty day simple moving average of $10.45.
Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Thursday, May 6th. The pipeline company reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.95. The business had revenue of $17 billion during the quarter, compared to the consensus estimate of $11.73 billion. Energy Transfer had a return on equity of 14.78% and a net margin of 7.60%. The business’s revenue for the quarter was up 46.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.32) earnings per share. Research analysts forecast that Energy Transfer LP will post 1.77 earnings per share for the current year.
Energy Transfer Profile
Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,340 miles of interstate natural gas pipelines. It also sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
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