Energy Transfer LP (NYSE:ET) is Dividend Assets Capital LLC’s 6th Largest Position

Dividend Assets Capital LLC reduced its stake in Energy Transfer LP (NYSE:ET) by 0.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 810,962 shares of the pipeline company’s stock after selling 3,380 shares during the quarter. Energy Transfer makes up approximately 2.9% of Dividend Assets Capital LLC’s investment portfolio, making the stock its 6th largest position. Dividend Assets Capital LLC’s holdings in Energy Transfer were worth $15,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. purchased a new stake in Energy Transfer in the 4th quarter valued at $25,000. Capital A Wealth Management LLC purchased a new position in shares of Energy Transfer during the 4th quarter worth $26,000. Fourth Dimension Wealth LLC purchased a new position in shares of Energy Transfer during the 4th quarter worth $29,000. United Community Bank purchased a new position in shares of Energy Transfer during the 4th quarter worth $35,000. Finally, Tortoise Investment Management LLC grew its holdings in shares of Energy Transfer by 111.1% during the 4th 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 during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

ET opened at $17.71 on Tuesday. The stock’s 50-day moving average price is $17.17 and its 200 day moving average price is $18.61. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The firm has a market cap of $60.78 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 0.64 and a beta of 0.78.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. The firm had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Energy Transfer’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, sell-side analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were given a $0.3275 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a yield of 7.40%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is currently 99.24%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Mizuho increased their price target on Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Wells Fargo & Company lowered their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, May 7th. Stifel Nicolaus increased their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, Morgan Stanley increased their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.64.

About Energy Transfer

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.