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

Veracity Capital LLC lifted its position in Energy Transfer LP (NYSE:ET) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,916 shares of the pipeline company’s stock after acquiring an additional 713 shares during the quarter. Veracity Capital LLC’s holdings in Energy Transfer were worth $518,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. First Reserve GP XIII Ltd purchased a new stake in shares of Energy Transfer during the fourth quarter valued at about $322,097,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Energy Transfer by 38.3% during the fourth 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 buying an additional 7,097,074 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Energy Transfer by 18.5% in 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. International Assets Investment Management LLC raised its position in shares of Energy Transfer by 1,447.6% in 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. Finally, UBS Group AG raised its position in shares of Energy Transfer by 13.3% in the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock valued at $395,270,000 after purchasing an additional 3,368,427 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on ET shares. UBS Group increased their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Stifel Nicolaus increased their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. increased their price objective on shares of 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 price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Finally, Mizuho increased 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. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Stock Performance

Shares of NYSE ET traded down $0.07 during midday trading on Thursday, reaching $16.33. 6,029,352 shares of the stock were exchanged, compared to its average volume of 9,580,107. The firm has a market cap of $55.03 billion, a price-to-earnings ratio of 14.98, a PEG ratio of 0.45 and a beta of 1.66. Energy Transfer LP has a twelve month low of $12.46 and a twelve month high of $16.48. The firm has a 50-day simple moving average of $15.76 and a two-hundred day simple moving average of $15.07. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37.

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 company had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. Energy Transfer’s revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS. As a group, analysts anticipate that Energy Transfer LP will post 1.45 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors 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. This represents a $1.27 annualized dividend and a yield of 7.76%. The ex-dividend date was Friday, May 10th. Energy Transfer’s payout ratio is 116.51%.

About Energy Transfer

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.