SCP Investment LP lessened its position in Energy Transfer LP (NYSE:ET) by 18.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,400 shares of the pipeline company’s stock after selling 3,000 shares during the quarter. Energy Transfer comprises 0.0% of SCP Investment LP’s holdings, making the stock its 26th largest position. SCP Investment LP’s holdings in Energy Transfer were worth $103,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ET. Crescent Capital Consulting LLC purchased a new position in shares of Energy Transfer in the first quarter valued at approximately $28,000. Concord Wealth Partners purchased a new position in shares of Energy Transfer in the fourth quarter valued at approximately $35,000. Interactive Financial Advisors lifted its position in shares of Energy Transfer by 82.5% in the first quarter. Interactive Financial Advisors now owns 4,642 shares of the pipeline company’s stock valued at $36,000 after acquiring an additional 2,098 shares in the last quarter. Albion Financial Group UT purchased a new position in shares of Energy Transfer in the fourth quarter valued at approximately $40,000. Finally, Cowa LLC purchased a new position in Energy Transfer during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 37.57% of the company’s stock.
Shares of NYSE ET traded up $0.19 during trading on Friday, reaching $11.24. The stock had a trading volume of 110,183 shares, compared to its average volume of 20,771,139. Energy Transfer LP has a fifty-two week low of $4.98 and a fifty-two week high of $11.11. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.77 and a current ratio of 1.01. The stock has a 50-day moving average price of $9.22. The stock has a market capitalization of $30.39 billion, a P/E ratio of 8.91 and a beta of 2.51.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 19th. Stockholders of record on Tuesday, May 11th were issued a $0.153 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.15. This represents a $0.61 annualized dividend and a dividend yield of 5.44%. The ex-dividend date of this dividend was Monday, May 10th. Energy Transfer’s payout ratio is presently -338.89%.
A number of equities analysts recently commented on ET shares. TheStreet upgraded Energy Transfer from a “c” rating to a “b-” rating in a research report on Friday, May 7th. Evercore ISI upgraded Energy Transfer from an “in-line” rating to an “outperform” rating in a research report on Wednesday, April 28th. Raymond James lifted their price objective on Energy Transfer from $9.00 to $10.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 15th. Zacks Investment Research upgraded Energy Transfer from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective on the stock in a research report on Monday. Finally, Wells Fargo & Company upgraded Energy Transfer from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $12.00 to $13.00 in a research report on Thursday, May 13th. Thirteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $11.31.
In other news, Director Ray W. Washburne bought 200,000 shares of Energy Transfer stock in a transaction dated Tuesday, May 11th. The stock was acquired at an average cost of $9.53 per share, with a total value of $1,906,000.00. Following the acquisition, the director now owns 123,930 shares of the company’s stock, valued at $1,181,052.90. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Bradford D. Whitehurst bought 5,000 shares of Energy Transfer stock in a transaction dated Wednesday, May 19th. The stock was purchased at an average cost of $10.14 per share, with a total value of $50,700.00. The disclosure for this purchase can be found here. 3.28% of the stock is currently owned by insiders.
Energy Transfer Company Profile
Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,340 miles of interstate natural gas pipelines. It also sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
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