MRP Capital Investments LLC Grows Stake in Energy Transfer LP (NYSE:ET)

Key Points

• MRP Capital Investments LLC significantly increased its stake in Energy Transfer LP by 1,381.1% during the first quarter, owning 53,408 shares worth approximately $993,000 after acquiring an additional 49,802 shares.
• Energy Transfer recently declared a quarterly dividend of $0.33 per share, representing a dividend yield of 7.45% and an annualized dividend payout of $1.32.
• The company has an average analyst rating of "Moderate Buy" with a price target of $22.58, as twelve analysts have given a buy rating to the stock.

MRP Capital Investments LLC boosted its stake in Energy Transfer LP (NYSE:ET - Free Report) by 1,381.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,408 shares of the pipeline company's stock after acquiring an additional 49,802 shares during the quarter. MRP Capital Investments LLC's holdings in Energy Transfer were worth $993,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ET. Capital A Wealth Management LLC acquired a new stake in Energy Transfer during the 4th quarter valued at approximately $26,000. Fourth Dimension Wealth LLC bought a new stake in Energy Transfer in the fourth quarter valued at about $29,000. HWG Holdings LP bought a new stake in Energy Transfer in the first quarter valued at about $38,000. Vermillion Wealth Management Inc. bought a new stake in Energy Transfer in the fourth quarter valued at about $46,000. Finally, Mascagni Wealth Management Inc. bought a new stake in Energy Transfer in the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 38.22% of the company's stock.

Insider Activity at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $18.48, for a total transaction of $25,299.12. Following the completion of the transaction, the director directly owned 24,523 shares in the company, valued at $453,185.04. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ET has been the subject of a number of research reports. Cowen began coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating for the company. Wells Fargo & Company dropped their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. TD Cowen began coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. dropped 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. Finally, Mizuho increased their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $22.58.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $17.73 on Friday. The stock has a market cap of $60.83 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 0.92 and a beta of 0.79. The business has a fifty day simple moving average of $17.79 and a 200-day simple moving average of $18.28. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.41. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 EPS. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be given a $0.33 dividend. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.45%. Energy Transfer's dividend payout ratio (DPR) is currently 100.00%.

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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