Moors & Cabot Inc. Sells 40,926 Shares of Energy Transfer LP $ET

Moors & Cabot Inc. lessened its position in Energy Transfer LP (NYSE:ET) by 8.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 428,153 shares of the pipeline company’s stock after selling 40,926 shares during the period. Moors & Cabot Inc.’s holdings in Energy Transfer were worth $7,347,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ET. Quantum Private Wealth LLC raised its position in Energy Transfer by 0.5% during the 2nd quarter. Quantum Private Wealth LLC now owns 116,515 shares of the pipeline company’s stock valued at $2,112,000 after purchasing an additional 627 shares during the last quarter. HBK Sorce Advisory LLC increased its stake in shares of Energy Transfer by 3.4% during the third quarter. HBK Sorce Advisory LLC now owns 19,018 shares of the pipeline company’s stock valued at $321,000 after buying an additional 628 shares during the period. Magnus Financial Group LLC increased its stake in shares of Energy Transfer by 2.0% during the third quarter. Magnus Financial Group LLC now owns 31,430 shares of the pipeline company’s stock valued at $539,000 after buying an additional 629 shares during the period. Perigon Wealth Management LLC raised its holdings in shares of Energy Transfer by 1.7% during the third quarter. Perigon Wealth Management LLC now owns 39,585 shares of the pipeline company’s stock valued at $679,000 after acquiring an additional 644 shares in the last quarter. Finally, Veracity Capital LLC lifted its stake in Energy Transfer by 1.9% in the third quarter. Veracity Capital LLC now owns 36,791 shares of the pipeline company’s stock worth $631,000 after acquiring an additional 689 shares during the period. 38.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ET shares. Royal Bank Of Canada upgraded shares of Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. JPMorgan Chase & Co. decreased their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Finally, Barclays reissued an “overweight” rating and issued a $22.00 price target (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $21.60.

Energy Transfer Stock Up 0.0%

Shares of Energy Transfer stock opened at $18.76 on Tuesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.22 and a quick ratio of 0.90. The company has a 50-day moving average of $18.18 and a 200 day moving average of $17.31. The firm has a market cap of $64.52 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.02 and a beta of 0.63. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $19.30.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). The business had revenue of $25.32 billion for the quarter, compared to the consensus estimate of $23.56 billion. Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The company’s revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were issued a dividend of $0.335 per share. The ex-dividend date was Friday, February 6th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a dividend yield of 7.1%. Energy Transfer’s dividend payout ratio is 110.74%.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.