Corps Capital Advisors LLC Takes Position in Energy Transfer LP (NYSE:ET)

Corps Capital Advisors LLC acquired a new position in Energy Transfer LP (NYSE:ET) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 189,152 shares of the pipeline company’s stock, valued at approximately $3,705,000. Energy Transfer comprises 3.8% of Corps Capital Advisors LLC’s investment portfolio, making the stock its 5th largest holding.

Several other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. raised its position in Energy Transfer by 173.1% during the third quarter. Blue Trust Inc. now owns 11,783 shares of the pipeline company’s stock valued at $191,000 after purchasing an additional 7,468 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Energy Transfer by 37.2% during the third quarter. Sequoia Financial Advisors LLC now owns 47,192 shares of the pipeline company’s stock valued at $757,000 after acquiring an additional 12,787 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Energy Transfer by 12.6% during the 3rd quarter. Signaturefd LLC now owns 27,419 shares of the pipeline company’s stock valued at $440,000 after purchasing an additional 3,075 shares during the last quarter. Eastern Bank purchased a new position in shares of Energy Transfer in the third quarter worth about $109,000. Finally, Leo Wealth LLC increased its stake in Energy Transfer by 197.5% in the 3rd quarter. Leo Wealth LLC now owns 37,575 shares of the pipeline company’s stock worth $603,000 after purchasing an additional 24,944 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ET has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Barclays raised their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada raised their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.18.

Energy Transfer Stock Down 0.8 %

Shares of NYSE:ET opened at $20.14 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The stock has a fifty day simple moving average of $19.85 and a two-hundred day simple moving average of $17.86. Energy Transfer LP has a 12-month low of $14.52 and a 12-month high of $21.45. The stock has a market capitalization of $68.94 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 0.52 and a beta of 1.69.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.66% and a net margin of 5.74%. On average, research analysts anticipate that Energy Transfer LP will post 1.47 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.46%. Energy Transfer’s dividend payout ratio is presently 101.56%.

Energy Transfer 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.