Cutter & CO Brokerage Inc. Purchases 17,816 Shares of Energy Transfer LP (NYSE:ET)

Cutter & CO Brokerage Inc. increased its stake in Energy Transfer LP (NYSE:ET) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 439,188 shares of the pipeline company’s stock after acquiring an additional 17,816 shares during the period. Energy Transfer comprises about 1.7% of Cutter & CO Brokerage Inc.’s holdings, making the stock its 12th largest holding. Cutter & CO Brokerage Inc.’s holdings in Energy Transfer were worth $6,061,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Activest Wealth Management grew its holdings in shares of Energy Transfer by 33.9% during the 4th quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 736 shares during the period. Veracity Capital LLC lifted its holdings in shares of Energy Transfer by 2.3% in the 4th quarter. Veracity Capital LLC now owns 32,203 shares of the pipeline company’s stock worth $444,000 after buying an additional 738 shares during the period. Harbor Investment Advisory LLC raised its holdings in Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 750 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in Energy Transfer by 2.1% in the fourth quarter. Cornerstone Wealth Management LLC now owns 37,195 shares of the pipeline company’s stock valued at $513,000 after buying an additional 776 shares in the last quarter. Finally, Morton Capital Management LLC CA boosted its position in Energy Transfer by 1.9% during the fourth quarter. Morton Capital Management LLC CA now owns 42,927 shares of the pipeline company’s stock worth $592,000 after purchasing an additional 785 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.3 %

Shares of NYSE ET traded up $0.04 during mid-day trading on Tuesday, hitting $15.87. The company had a trading volume of 10,878,634 shares, compared to its average volume of 12,472,339. The firm has a 50-day simple moving average of $15.23 and a two-hundred day simple moving average of $14.27. Energy Transfer LP has a one year low of $12.18 and a one year high of $16.04. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $53.47 billion, a PE ratio of 14.56 and a beta of 1.64.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The business had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 EPS. On average, equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Wednesday, February 7th were given a dividend of $0.315 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.26 annualized dividend and a dividend yield of 7.94%. Energy Transfer’s dividend payout ratio (DPR) is 115.60%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ET. UBS Group reduced their price objective on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Citigroup increased their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, Mizuho reissued a “buy” rating and issued a $19.00 price target (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Energy Transfer Company 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.