Alpha Cubed Investments LLC Decreases Holdings in Energy Transfer LP (NYSE:ET)

Alpha Cubed Investments LLC decreased its position in shares of Energy Transfer LP (NYSE:ET) by 9.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,392 shares of the pipeline company’s stock after selling 3,485 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Energy Transfer were worth $447,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Rise Advisors LLC raised its position in shares of Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in Energy Transfer by 42.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 750 shares during the last quarter. BluePath Capital Management LLC acquired a new position in Energy Transfer in the 3rd quarter valued at $37,000. Community Bank N.A. raised its holdings in Energy Transfer by 55.9% in the 4th quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 951 shares during the last quarter. Finally, Fortitude Family Office LLC acquired a new position in Energy Transfer in the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.4 %

Energy Transfer stock opened at $15.80 on Wednesday. The business has a 50 day moving average price of $15.41 and a two-hundred day moving average price of $14.36. 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 $53.24 billion, a price-to-earnings ratio of 14.43 and a beta of 1.64. Energy Transfer LP has a 12 month low of $12.18 and a 12 month high of $16.07.

Energy Transfer (NYSE:ET) last issued its 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 return on equity of 12.17% and a net margin of 4.85%. The business had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. During the same period in the prior year, the firm posted $0.34 EPS. Energy Transfer’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Energy Transfer LP will post 1.57 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be given a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 8.03%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, May 10th. Energy Transfer’s dividend payout ratio (DPR) is presently 115.60%.

Analyst Upgrades and Downgrades

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

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.