221,559 Shares in Energy Transfer LP (NYSE:ET) Acquired by Inscription Capital LLC

Inscription Capital LLC bought a new stake in Energy Transfer LP (NYSE:ET - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 221,559 shares of the pipeline company's stock, valued at approximately $4,119,000. Energy Transfer accounts for about 0.7% of Inscription Capital LLC's portfolio, making the stock its 29th largest position.

Several other institutional investors and hedge funds have also modified their holdings of the business. Mountain Hill Investment Partners Corp. bought a new position in Energy Transfer in the fourth quarter valued at $25,000. Capital A Wealth Management LLC bought a new position in shares of Energy Transfer during the fourth quarter worth approximately $26,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Energy Transfer during the fourth quarter worth $29,000. United Community Bank acquired a new stake in Energy Transfer in the 4th quarter worth about $35,000. Finally, Tortoise Investment Management LLC boosted its stake in shares of Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock valued at $37,000 after buying an additional 1,000 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on ET. Mizuho upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. Royal Bank of Canada reissued an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. JPMorgan Chase & Co. reduced their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Morgan Stanley raised their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Finally, Citigroup reissued a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $22.64.

Energy Transfer Price Performance

ET stock opened at $18.14 on Tuesday. The company has a market capitalization of $62.25 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The business has a 50-day simple moving average of $17.38 and a two-hundred day simple moving average of $18.57.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion for the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.32 earnings per share. Research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were paid a $0.3275 dividend. This represents a $1.31 dividend on an annualized basis and a yield of 7.22%. The ex-dividend date of this dividend was Friday, May 9th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is 99.24%.

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.

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