Veracity Capital LLC Purchases 713 Shares of Energy Transfer LP (NYSE:ET)

Veracity Capital LLC lifted its stake in shares of Energy Transfer LP (NYSE:ET) by 2.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 32,916 shares of the pipeline company’s stock after buying an additional 713 shares during the period. Veracity Capital LLC’s holdings in Energy Transfer were worth $518,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Northwest Financial Advisors bought a new stake in shares of Energy Transfer during the 4th quarter valued at $25,000. Rise Advisors LLC lifted its holdings in Energy Transfer by 88.2% in the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after buying an additional 927 shares during the period. Atlantic Edge Private Wealth Management LLC purchased a new stake in Energy Transfer in the 4th quarter worth approximately $33,000. Harbor Investment Advisory LLC lifted its holdings in Energy Transfer by 42.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after buying an additional 750 shares during the period. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of Energy Transfer in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Energy Transfer Stock Performance

Shares of ET stock traded down $0.07 on Thursday, reaching $16.33. The stock had a trading volume of 6,029,352 shares, compared to its average volume of 9,580,107. The stock has a market cap of $55.03 billion, a P/E ratio of 14.98, a price-to-earnings-growth ratio of 0.45 and a beta of 1.66. Energy Transfer LP has a 1 year low of $12.46 and a 1 year high of $16.48. 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 50 day simple moving average of $15.76 and a 200 day simple moving average of $15.07.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The firm had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business earned $0.32 earnings per share. Equities research analysts expect that Energy Transfer LP will post 1.45 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were given a dividend of $0.317 per share. The ex-dividend date was Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 7.76%. Energy Transfer’s payout ratio is 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.