Quadcap Wealth Management LLC Decreases Stock Position in Energy Transfer LP (NYSE:ET)

Quadcap Wealth Management LLC cut its holdings in Energy Transfer LP (NYSE:ET) by 5.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,971 shares of the pipeline company’s stock after selling 1,084 shares during the period. Quadcap Wealth Management LLC’s holdings in Energy Transfer were worth $352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ET. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer in the 4th quarter worth about $25,000. United Community Bank purchased a new stake in shares of Energy Transfer in the 4th quarter worth about $35,000. Financial Life Planners purchased a new stake in shares of Energy Transfer in the 4th quarter worth about $37,000. Tortoise Investment Management LLC boosted its position in shares of Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after buying an additional 1,000 shares in the last quarter. Finally, Citizens National Bank Trust Department purchased a new stake in shares of Energy Transfer in the 4th quarter worth about $39,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ET has been the topic of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. 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. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Stifel Nicolaus upped their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Trading Down 0.1%

NYSE ET opened at $17.96 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 50-day moving average of $17.48 and a 200-day moving average of $18.55. 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 has a market cap of $61.63 billion, a P/E ratio of 14.03, a P/E/G ratio of 0.64 and a beta of 0.77.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates 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 5.74% and a return on equity of 11.56%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 EPS. As a group, equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 9th will be given a dividend of $0.3275 per share. This represents a $1.31 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date of this dividend is Friday, May 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is 99.24%.

Energy Transfer 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.