Energy Transfer LP (NYSE:ET) is CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's Largest Position

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT cut its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 2.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,416,868 shares of the pipeline company's stock after selling 169,730 shares during the period. Energy Transfer accounts for approximately 8.5% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings, making the stock its biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.22% of Energy Transfer worth $137,880,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ET. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer during the 4th quarter valued at $25,000. Capital A Wealth Management LLC acquired a new position in shares of Energy Transfer during the 4th quarter valued at $26,000. Fourth Dimension Wealth LLC acquired a new position in shares of Energy Transfer during the 4th quarter valued at $29,000. United Community Bank acquired a new position in shares of Energy Transfer during the 4th quarter valued at $35,000. Finally, Tortoise Investment Management LLC lifted its holdings in shares of Energy Transfer by 111.1% during the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock valued at $37,000 after acquiring an additional 1,000 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

Shares of ET stock opened at $18.21 on Friday. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. The firm has a market capitalization of $62.48 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.59 and a beta of 0.78. The company's fifty day moving average price is $17.58 and its two-hundred day moving average price is $18.50.

Energy Transfer (NYSE:ET - Get Free Report) last released its 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 company had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The company's revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 EPS. On average, research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a $0.3275 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.31 annualized dividend and a dividend yield of 7.20%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is presently 99.24%.

Insider Transactions at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the sale, the director now owns 24,523 shares of the company's stock, valued at approximately $453,185.04. The trade was a 5.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.28% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Royal Bank Of Canada restated an "outperform" rating and set a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. Mizuho lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Citigroup restated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Wells Fargo & Company reduced their target price on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, UBS Group reiterated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.64.

Energy Transfer Company 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.

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