CoreCap Advisors LLC Boosts Holdings in Energy Transfer LP (NYSE:ET)

CoreCap Advisors LLC lifted its holdings in Energy Transfer LP (NYSE:ET) by 681.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,619 shares of the pipeline company’s stock after buying an additional 124,374 shares during the period. CoreCap Advisors LLC’s holdings in Energy Transfer were worth $1,968,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in shares of Energy Transfer by 230.9% in the third quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock worth $10,335,000 after buying an additional 513,989 shares in the last quarter. Fractal Investments LLC raised its stake in Energy Transfer by 12.9% during the third quarter. Fractal Investments LLC now owns 5,682,061 shares of the pipeline company’s stock worth $79,719,000 after purchasing an additional 647,885 shares during the period. Cutter & CO Brokerage Inc. raised its stake in Energy Transfer by 22.5% during the third quarter. Cutter & CO Brokerage Inc. now owns 421,372 shares of the pipeline company’s stock worth $5,912,000 after purchasing an additional 77,352 shares during the period. Hodges Capital Management Inc. purchased a new position in Energy Transfer during the third quarter worth about $3,936,000. Finally, Citigroup Inc. raised its stake in Energy Transfer by 8.1% during the third quarter. Citigroup Inc. now owns 8,359,269 shares of the pipeline company’s stock worth $117,281,000 after purchasing an additional 629,300 shares during the period. 33.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ET has been the subject of a number of recent analyst reports. Citigroup lifted their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. UBS Group dropped their price objective on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.57.

Energy Transfer Stock Down 0.2 %

Energy Transfer stock traded down $0.03 during trading on Friday, reaching $15.56. The stock had a trading volume of 7,344,118 shares, compared to its average volume of 9,861,930. Energy Transfer LP has a 52-week low of $11.45 and a 52-week high of $15.72. The business has a 50 day moving average price of $14.58 and a 200 day moving average price of $13.99. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. The stock has a market cap of $52.43 billion, a PE ratio of 14.28 and a beta of 1.64.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts predict that Energy Transfer LP will post 1.44 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Wednesday, February 7th were paid a $0.315 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $1.26 dividend on an annualized basis and a yield of 8.10%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s payout ratio is currently 115.60%.

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.