Capital Market Strategies LLC Raises Holdings in Energy Transfer LP (NYSE:ET)

Capital Market Strategies LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,455 shares of the pipeline company’s stock after buying an additional 1,000 shares during the period. Capital Market Strategies LLC’s holdings in Energy Transfer were worth $459,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ET. CWA Asset Management Group LLC raised its holdings in Energy Transfer by 99.6% in the fourth quarter. CWA Asset Management Group LLC now owns 46,598 shares of the pipeline company’s stock worth $913,000 after purchasing an additional 23,249 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Energy Transfer during the fourth quarter valued at approximately $29,000. FFG Partners LLC boosted its stake in Energy Transfer by 3.3% in the third quarter. FFG Partners LLC now owns 1,636,626 shares of the pipeline company’s stock valued at $26,268,000 after acquiring an additional 52,302 shares in the last quarter. Fidelity D & D Bancorp Inc. purchased a new position in Energy Transfer in the third quarter worth $1,207,000. Finally, Peapack Gladstone Financial Corp increased its position in shares of Energy Transfer by 6.8% during the third quarter. Peapack Gladstone Financial Corp now owns 15,675 shares of the pipeline company’s stock worth $251,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE ET traded up $0.06 during midday trading on Monday, hitting $19.70. The stock had a trading volume of 4,788,131 shares, compared to its average volume of 15,729,473. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The stock has a 50 day simple moving average of $18.41 and a 200-day simple moving average of $16.94. The company has a market capitalization of $67.45 billion, a PE ratio of 14.49, a P/E/G ratio of 0.63 and a beta of 1.70. Energy Transfer LP has a 1 year low of $13.60 and a 1 year high of $20.02.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the previous year, the company posted $0.31 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts expect that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.55%. Energy Transfer’s dividend payout ratio is presently 94.85%.

Analyst Ratings Changes

Several brokerages recently weighed in on ET. Barclays boosted their target price on Energy Transfer from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Royal Bank of Canada lifted their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. UBS Group raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.55.

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.