Hexagon Capital Partners LLC Acquires 737 Shares of Energy Transfer LP (NYSE:ET)

Hexagon Capital Partners LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 7.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,155 shares of the pipeline company’s stock after acquiring an additional 737 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Energy Transfer were worth $160,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. First Reserve GP XIII Ltd bought a new position in shares of Energy Transfer during the 4th quarter valued at about $322,097,000. Alps Advisors Inc. increased its position in shares of 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position 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 valued at $353,576,000 after purchasing an additional 7,097,074 shares during the last quarter. Clearbridge Investments LLC increased its position 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 valued at $350,845,000 after purchasing an additional 3,976,676 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position 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 valued at $518,460,000 after purchasing an additional 3,514,195 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Energy Transfer Stock Up 0.9 %

ET stock traded up $0.14 on Monday, reaching $16.37. 12,498,547 shares of the company traded hands, compared to its average volume of 11,897,209. Energy Transfer LP has a one year low of $12.46 and a one year high of $16.40. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. The company has a market cap of $55.15 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 0.44 and a beta of 1.66. The firm has a fifty day simple moving average of $15.73 and a 200-day simple moving average of $15.02.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. Research analysts anticipate that Energy Transfer LP will post 1.45 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were issued a $0.317 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.75%. Energy Transfer’s dividend payout ratio (DPR) is presently 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.