Cape Investment Advisory Inc. Has $30,000 Holdings in Energy Transfer LP (NYSE:ET)

Cape Investment Advisory Inc. lessened its holdings in shares of Energy Transfer LP (NYSE:ET) by 70.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,880 shares of the pipeline company’s stock after selling 4,476 shares during the quarter. Cape Investment Advisory Inc.’s holdings in Energy Transfer were worth $30,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. First Reserve GP XIII Ltd bought a new stake in shares of Energy Transfer during the fourth quarter worth approximately $322,097,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Energy Transfer by 38.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock valued at $353,576,000 after buying an additional 7,097,074 shares during the period. Clearbridge Investments LLC boosted its stake in shares of Energy Transfer by 18.5% in the fourth quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after buying an additional 3,976,676 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Energy Transfer by 1,447.6% in the fourth quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock valued at $518,460,000 after buying an additional 3,514,195 shares during the period. Finally, UBS Group AG boosted its stake in shares of Energy Transfer by 13.3% in the fourth quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock valued at $395,270,000 after buying an additional 3,368,427 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Down 1.5 %

NYSE ET traded down $0.24 during trading hours on Friday, hitting $15.95. The company’s stock had a trading volume of 20,932,387 shares, compared to its average volume of 18,857,116. Energy Transfer LP has a 52 week low of $12.46 and a 52 week high of $16.50. The company has a market capitalization of $53.75 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 0.42 and a beta of 1.66. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The company’s 50-day simple moving average is $15.92 and its two-hundred day simple moving average is $15.43.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business had revenue of $21.63 billion during the quarter, compared to the consensus estimate of $20.91 billion. During the same period in the previous year, the business posted $0.32 EPS. Energy Transfer’s revenue was up 13.9% compared to the same quarter last year. Research analysts anticipate that Energy Transfer LP will post 1.49 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Friday, August 9th will be paid a $0.32 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, August 9th. This represents a $1.28 annualized dividend and a yield of 8.03%. Energy Transfer’s dividend payout ratio (DPR) is 116.51%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ET shares. JPMorgan Chase & Co. boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. UBS Group boosted their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Morgan Stanley boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Stifel Nicolaus upped their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Finally, Mizuho upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

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.