Shares of Energy Transfer (ET) are up about 23% year-to-date, outperforming the S&P 500’s (SPX) 16% gain, driven by its strong growth potential. The company is likely to release its second-quarter results next week on August 7. It is expected to deliver year-over-year growth in both revenue and earnings. Consequently, it’s the right time to see who owns Energy Transfer.
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Now, according to TipRanks’ ownership page, public companies and individual investors own 71.63% of Energy Transfer. They are followed by insiders, other institutional investors, and mutual funds, at 16.96%, 5.89%, and 5.52%, respectively.
Energy Transfer is a midstream energy stock with a market capitalization of $54.7 billion. It operates an energy infrastructure business and transports hydrocarbons.
Digging Deeper into ET’s Ownership Structure
Among the institutions, the Hedge Fund Confidence Signal is Negative on ET stock based on the activity of 19 hedge funds. Hedge funds decreased their ET holdings by 4.3M shares in the last quarter.
Meanwhile, individual investors have a Neutral view of the company. In the last 30 days, the number of portfolios (tracked by TipRanks) holding Energy Transfer stock increased by 0.4%. Overall, among the 749,513 portfolios monitored by TipRanks, 2.9% have invested in ET stock.
Analysts’ Expectations for Q2
Analysts anticipate that ET will show year-over-year growth in both its revenue and earnings for the second quarter. They are expecting earnings per share to come in at $0.35, up 40% from the year-ago quarter. Meanwhile, analysts expect revenues of $22.01 billion, reflecting a 20% year-over-year increase, according to TipRanks’ data.
Interestingly, ET missed EPS estimates in three of its last four quarterly earnings due to the challenges posed by a volatile energy market.
Is Energy Transfer a Good Stock to Buy?
Wall Street analysts are optimistic about ET stock. With eight Buys and one Sell recommendations, Energy Transfer stock sports a Strong Buy consensus rating. These analysts’ average ET stock price target of $19.50 implies about 20.4% upside potential from current levels.
Conclusion
TipRanks’ Ownership tool provides ET ownership structure by category, enabling investors to make well-informed investing decisions. Analysts expect ET’s top and bottom lines to improve year-over-year in Q2.
