Requisite Capital Management LLC Acquires 32,265 Shares of Energy Transfer LP (NYSE:ET)

Requisite Capital Management LLC grew its position in shares of Energy Transfer LP (NYSE:ET) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 550,610 shares of the pipeline company’s stock after purchasing an additional 32,265 shares during the quarter. Energy Transfer comprises approximately 1.9% of Requisite Capital Management LLC’s investment portfolio, making the stock its 10th largest position. Requisite Capital Management LLC’s holdings in Energy Transfer were worth $8,661,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Northwest Financial Advisors bought a new position in Energy Transfer during the 4th quarter worth approximately $25,000. Rise Advisors LLC increased its stake in shares of Energy Transfer by 88.2% in the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 927 shares in the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Energy Transfer in the 4th quarter valued at $33,000. Harbor Investment Advisory LLC increased its stake in shares of 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 in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of Energy Transfer in the 4th quarter valued at $34,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.2 %

ET traded up $0.04 during mid-day trading on Tuesday, reaching $16.40. 10,607,853 shares of the stock were exchanged, compared to its average volume of 11,886,979. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The stock has a market capitalization of $55.27 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 0.44 and a beta of 1.66. The company has a 50 day moving average price of $15.74 and a two-hundred day moving average price of $15.04. Energy Transfer LP has a 1 year low of $12.46 and a 1 year high of $16.48.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The firm had revenue of $21.63 billion for the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. Energy Transfer’s revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. As a group, research analysts anticipate that Energy Transfer LP will post 1.45 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were issued a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a yield of 7.73%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 10th. Energy Transfer’s payout ratio is currently 116.51%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. UBS Group lifted their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Stifel Nicolaus lifted their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. lifted their price target 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. Mizuho lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, Morgan Stanley lifted their price target 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus price target 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.