Linscomb Wealth Inc. Grows Stock Holdings in Energy Transfer LP (NYSE:ET)

Linscomb Wealth Inc. grew its holdings in Energy Transfer LP (NYSE:ET) by 12.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 75,094 shares of the pipeline company’s stock after acquiring an additional 8,236 shares during the period. Linscomb Wealth Inc.’s holdings in Energy Transfer were worth $1,181,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. UBS Group AG lifted its position in Energy Transfer by 13.3% in the fourth quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after buying an additional 3,368,427 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Energy Transfer by 38.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after acquiring an additional 7,097,074 shares during the last quarter. Clearbridge Investments LLC boosted its stake 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 worth $350,845,000 after purchasing an additional 3,976,676 shares during the period. First Reserve GP XIII Ltd bought a new position in Energy Transfer during the 4th quarter valued at about $322,097,000. Finally, Natixis raised its position in Energy Transfer by 20.0% in the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after purchasing an additional 2,999,300 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Up 0.9 %

Shares of ET traded up $0.14 during midday trading on Friday, reaching $16.27. 22,057,655 shares of the stock were exchanged, compared to its average volume of 16,657,606. The company has a market capitalization of $54.83 billion, a P/E ratio of 14.93, a PEG ratio of 0.44 and a beta of 1.66. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a 52 week low of $12.46 and a 52 week high of $16.50. The company’s 50 day moving average is $15.88 and its two-hundred day moving average is $15.35.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. During the same quarter in the previous year, the company earned $0.32 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.47 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 9th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 7.87%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, August 9th. Energy Transfer’s dividend payout ratio (DPR) is presently 116.51%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ET. Morgan Stanley upped 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. Stifel Nicolaus upped 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. UBS Group lifted their target price on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Mizuho upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $19.29.

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.