SCP Investment LP increased its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 153.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,800 shares of the pipeline company's stock after purchasing an additional 41,000 shares during the quarter. Energy Transfer comprises about 1.1% of SCP Investment LP's portfolio, making the stock its 17th biggest position. SCP Investment LP's holdings in Energy Transfer were worth $1,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of ET. Capital A Wealth Management LLC bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $26,000. Fourth Dimension Wealth LLC bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $29,000. HWG Holdings LP bought a new stake in shares of Energy Transfer during the first quarter valued at approximately $38,000. N.E.W. Advisory Services LLC bought a new position in Energy Transfer in the first quarter valued at approximately $40,000. Finally, Vermillion Wealth Management Inc. bought a new position in Energy Transfer in the fourth quarter valued at approximately $46,000. 38.22% of the stock is owned by institutional investors.
Insider Activity at Energy Transfer
In related news, Director James Richard Perry sold 1,369 shares of the firm's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the sale, the director directly owned 24,523 shares in the company, valued at $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.28% of the stock is currently owned by insiders.
Energy Transfer Trading Down 1.3%
Shares of NYSE ET opened at $17.80 on Friday. The company's fifty day moving average is $17.79 and its 200-day moving average is $18.22. The stock has a market cap of $61.09 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 0.92 and a beta of 0.83. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. 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 (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The company had revenue of $21.02 billion for the quarter, compared to analysts' expectations of $22.28 billion. During the same period last year, the firm posted $0.32 earnings per share. The business's quarterly revenue was down 2.8% compared to the same quarter last year. Equities research analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.
Energy Transfer Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Friday, August 8th will be issued a dividend of $0.33 per share. The ex-dividend date is Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.4%. Energy Transfer's dividend payout ratio (DPR) is 99.24%.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on ET. 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. Mizuho raised their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. TD Cowen began coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective on the stock. Wells Fargo & Company reduced 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. Finally, Cowen began coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.58.
Check Out Our Latest Research Report on ET
Energy Transfer Profile
(
Free Report)
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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