Capital Market Strategies LLC Has $396,000 Holdings in Energy Transfer LP (NYSE:ET)

Capital Market Strategies LLC lessened its stake in Energy Transfer LP (NYSE:ET) by 9.1% in the 1st quarter, HoldingsChannel reports. The fund owned 21,323 shares of the pipeline company’s stock after selling 2,132 shares during the quarter. Capital Market Strategies LLC’s holdings in Energy Transfer were worth $396,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ET. Forvis Mazars Wealth Advisors LLC grew its position in shares of Energy Transfer by 164.1% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock worth $1,186,000 after buying an additional 37,633 shares during the period. Wedbush Securities Inc. grew its position in shares of Energy Transfer by 44.2% during the 4th quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company’s stock worth $2,650,000 after buying an additional 41,438 shares during the period. FFG Partners LLC grew its position in shares of Energy Transfer by 0.9% during the 4th quarter. FFG Partners LLC now owns 1,650,574 shares of the pipeline company’s stock worth $32,335,000 after buying an additional 13,948 shares during the period. Greenland Capital Management LP acquired a new stake in shares of Energy Transfer during the 4th quarter worth approximately $2,253,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Energy Transfer during the 4th quarter worth approximately $597,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ET. Morgan Stanley lifted their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Mizuho lifted 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. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Citigroup restated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.64.

Energy Transfer Stock Down 0.5%

Energy Transfer stock opened at $17.67 on Friday. The stock has a market capitalization of $60.64 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77. 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 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. The company has a 50 day moving average of $17.33 and a 200-day moving average of $18.61.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $21.02 billion during 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 business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were issued a $0.3275 dividend. This represents a $1.31 annualized dividend and a dividend yield of 7.41%. The ex-dividend date was Friday, May 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is 99.24%.

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.