Sei Investments Co. Increases Stake in Energy Transfer LP

Sei Investments Co. significantly increased its investment in Energy Transfer LP (NYSE:ET - Free Report) during the fourth quarter of the previous year. According to its latest report to the Securities and Exchange Commission (SEC), Sei Investments boosted its holdings by 131.6% to a total of 244,213 shares after purchasing an additional 138,761 shares. At the end of this reporting period, the value of Sei Investments’ shares in Energy Transfer was approximately $4,784,000.

Energy Transfer provides energy-related services including the operation of natural gas pipelines and storage facilities. Its recent actions in the market highlight ongoing interest from various institutional investors.

Other institutional investors also made adjustments to their positions in Energy Transfer. For instance, GAMMA Investing LLC acquired a new stake in the fourth quarter valued at $29,000. Similarly, United Community Bank invested around $35,000, and Financial Life Planners entered the market with a position worth about $37,000. Tortoise Investment Management LLC increased its holdings by 111.1%, now owning 1,900 shares valued at $37,000 after adding 1,000 shares in the same quarter. Citizens National Bank Trust Department also entered with a new stake valued at approximately $39,000.

Overall, institutional investors currently hold approximately 38.22% of Energy Transfer’s stock.

Energy Transfer Stock Details

On Wednesday, Energy Transfer (ET) shares opened at $18.73. The company maintains a current ratio of 1.12, a quick ratio of 0.88, and a debt-to-equity ratio of 1.42. The fifty-day simple moving average is $19.38, while the two-hundred-day simple moving average stands at $18.43. Energy Transfer LP has seen a twelve-month low of $14.90 and a high of $21.45. The company's market capitalization is around $64.25 billion, with a price-to-earnings (P/E) ratio of 14.63 and a price-to-earnings growth ratio of 0.64. Additionally, a beta of 1.72 indicates its volatility in the market.

Recent Earnings Report and Dividend Increase

In its latest earnings report released on February 11th, Energy Transfer reported earnings per share (EPS) of $0.29 for the quarter, falling short of the anticipated $0.35 by $0.06. The company achieved a return on equity of 11.56% and a net margin of 5.74%. Analysts have forecast an EPS of 1.46 for the current year.

Furthermore, Energy Transfer has recently declared a quarterly dividend, which was paid out on February 19th. A dividend of $0.325 per share was granted to investors who were on record as of February 7th, equating to an annualized dividend of $1.30 and a yield of 6.94%. This marked an increase from their previous quarterly dividend of $0.32. Notably, the current payout ratio is at 101.56%.

Analysts' Perspectives

Energy Transfer has attracted the attention of several analysts who have commented on its stock performance. UBS Group reiterated a "buy" rating on Energy Transfer in a note dated March 4th. Barclays also raised its price target on Energy Transfer shares from $22.00 to $25.00, assigning an "overweight" rating. Citigroup reaffirmed its "buy" status, while Stifel Nicolaus raised its own price target from $21.00 to $23.00 and maintained a "buy" rating. Royal Bank of Canada also issued an "outperform" rating with a price objective of $23.00. Currently, one analyst rates the stock as a hold, while ten others advocate for buying it, resulting in a consensus rating of "Moderate Buy" and a target price of $22.09 according to MarketBeat.com.

Company Overview

Energy Transfer LP is a leading provider of energy-related services. The company manages natural gas pipelines and storage facilities in Texas and Oklahoma, covering roughly 20,090 miles of interstate natural gas pipeline. It supplies natural gas to various sectors, including electric utilities, independent power plants, and industrial users.

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