Brookfield Corp ON Grows Position in Energy Transfer LP (NYSE:ET)

Brookfield Corp ON grew its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,139,924 shares of the pipeline company's stock after purchasing an additional 352,625 shares during the period. Energy Transfer makes up 1.2% of Brookfield Corp ON's investment portfolio, making the stock its 13th biggest holding. Brookfield Corp ON owned about 0.38% of Energy Transfer worth $210,896,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ET. Princeton Global Asset Management LLC grew its position in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company's stock valued at $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. increased its position in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock worth $28,000 after acquiring an additional 1,668 shares in the last quarter. HWG Holdings LP bought a new stake in shares of Energy Transfer during the second quarter worth about $33,000. Sugarloaf Wealth Management LLC raised its holdings in shares of Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company's stock worth $40,000 after acquiring an additional 750 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. bought a new position in Energy Transfer in the 2nd quarter valued at about $42,000. Institutional investors own 38.22% of the company's stock.

Energy Transfer Stock Performance

Energy Transfer stock traded up $0.19 during mid-day trading on Friday, reaching $19.26. 14,520,746 shares of the company's stock were exchanged, compared to its average volume of 19,200,944. The business's fifty day simple moving average is $17.29 and its 200 day simple moving average is $16.41. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a one year low of $13.11 and a one year high of $20.02. The firm has a market capitalization of $65.94 billion, a PE ratio of 14.16, a P/E/G ratio of 0.62 and a beta of 1.70.

Energy Transfer (NYSE:ET - Get Free Report) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts' consensus estimates of $0.32. The company had revenue of $20.77 billion for the quarter, compared to analysts' expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 EPS. On average, sell-side analysts expect that Energy Transfer LP will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer's dividend payout ratio is currently 94.85%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. UBS Group boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Royal Bank of Canada upped their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Finally, Bank of America assumed coverage on Energy Transfer in a research note on Thursday, October 17th. They set a "buy" rating and a $20.00 price objective on the stock. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Energy Transfer currently has a consensus rating of "Buy" and a consensus target price of $20.00.

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.