1900 Wealth Management LLC Has $3.70 Million Position in Energy Transfer LP (NYSE:ET)

1900 Wealth Management LLC grew its stake in shares of Energy Transfer LP (NYSE:ET) by 1.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 198,790 shares of the pipeline company’s stock after buying an additional 3,431 shares during the period. 1900 Wealth Management LLC’s holdings in Energy Transfer were worth $3,696,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. acquired a new position in Energy Transfer in the fourth quarter worth about $25,000. Capital A Wealth Management LLC acquired a new position in Energy Transfer in the fourth quarter worth about $26,000. Fourth Dimension Wealth LLC acquired a new position in Energy Transfer in the fourth quarter worth about $29,000. United Community Bank acquired a new position in Energy Transfer in the fourth quarter worth about $35,000. Finally, Tortoise Investment Management LLC raised its position in Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET opened at $18.30 on Monday. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The company’s 50 day simple moving average is $17.33 and its 200-day simple moving average is $18.58. The stock has a market capitalization of $62.78 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78.

Energy Transfer (NYSE:ET) last released 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. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The business had revenue of $21.02 billion for the quarter, compared to analysts’ expectations of $22.28 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. Energy Transfer’s revenue was down 2.8% compared to the same quarter last year. Sell-side 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 declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were paid a dividend of $0.3275 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a dividend yield of 7.16%. The ex-dividend date was Friday, May 9th. Energy Transfer’s dividend payout ratio is 99.24%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. Morgan Stanley raised their price objective 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. JPMorgan Chase & Co. dropped their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, May 19th. Finally, Wells Fargo & Company dropped their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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.