CX Institutional Invests $50,000 in Energy Transfer LP (NYSE:ET)

CX Institutional purchased a new stake in shares of Energy Transfer LP (NYSE:ET) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,681 shares of the pipeline company’s stock, valued at approximately $50,000.

Other large investors have also added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Energy Transfer during the 4th quarter worth approximately $25,000. Capital A Wealth Management LLC purchased a new stake in Energy Transfer in the fourth quarter worth $26,000. Fourth Dimension Wealth LLC bought a new stake in shares of Energy Transfer in the fourth quarter valued at $29,000. United Community Bank purchased a new position in shares of Energy Transfer during the 4th quarter valued at $35,000. Finally, Tortoise Investment Management LLC grew its stake 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 acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 1.3%

Shares of ET opened at $17.91 on Wednesday. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The company has a market capitalization of $61.45 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.59 and a beta of 0.78. The firm’s 50 day simple moving average is $17.41 and its 200 day simple moving average is $18.57.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data 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. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The firm had revenue of $21.02 billion for the quarter, compared to analysts’ expectations of $22.28 billion. During the same quarter last year, the company posted $0.32 EPS. The business’s quarterly revenue was down 2.8% on a year-over-year basis. Sell-side analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were paid a dividend of $0.3275 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.31 annualized dividend and a yield of 7.32%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is 99.24%.

Insiders Place Their Bets

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the transaction, the director now directly owns 24,523 shares of the company’s stock, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.28% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ET. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Mizuho increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, May 20th. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a 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 report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price 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.