Silvercrest Asset Management Group LLC Has $2.51 Million Stake in Energy Transfer LP (NYSE:ET)

Silvercrest Asset Management Group LLC lifted its holdings in Energy Transfer LP (NYSE:ET) by 31.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 159,264 shares of the pipeline company’s stock after buying an additional 38,383 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Energy Transfer were worth $2,505,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. NBC Securities Inc. increased its stake in shares of Energy Transfer by 4.3% in the 1st quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock valued at $886,000 after buying an additional 2,326 shares during the period. US Bancorp DE increased its position in Energy Transfer by 95.8% in the fourth quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock worth $2,013,000 after purchasing an additional 71,386 shares during the period. Savant Capital LLC raised its holdings in Energy Transfer by 19.7% during the 4th quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company’s stock worth $363,000 after purchasing an additional 4,340 shares during the last quarter. Arkadios Wealth Advisors lifted its position in Energy Transfer by 3.3% during the 4th quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock valued at $390,000 after purchasing an additional 903 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Energy Transfer in the 4th quarter valued at about $1,368,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ET. Stifel Nicolaus boosted their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Mizuho increased their price target on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. UBS Group lifted their price objective on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. 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 research note on Thursday, June 20th. Finally, Morgan Stanley boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $19.29.

Energy Transfer Stock Up 1.2 %

Shares of Energy Transfer stock opened at $16.21 on Wednesday. The company has a market capitalization of $54.63 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 0.42 and a beta of 1.66. 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 business has a 50-day moving average of $15.88 and a two-hundred day moving average of $15.40. Energy Transfer LP has a 1 year low of $12.46 and a 1 year high of $16.50.

Energy Transfer (NYSE:ET) last posted its 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 business had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. Energy Transfer’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 earnings per share. As a group, equities analysts predict that Energy Transfer LP will post 1.47 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 9th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a yield of 7.90%. Energy Transfer’s dividend payout ratio is presently 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.