Energy Transfer LP (NYSE:ET) is JCP Investment Management LLC’s 4th Largest Position

JCP Investment Management LLC grew its stake in shares of Energy Transfer LP (NYSE:ET) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 684,064 shares of the pipeline company’s stock after purchasing an additional 7,064 shares during the period. Energy Transfer makes up 7.9% of JCP Investment Management LLC’s investment portfolio, making the stock its 4th largest holding. JCP Investment Management LLC’s holdings in Energy Transfer were worth $13,401,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of ET. Mountain Hill Investment Partners Corp. bought a new stake in shares of Energy Transfer during the 4th quarter valued at $25,000. GAMMA Investing LLC bought a new stake in Energy Transfer during the fourth quarter worth about $29,000. United Community Bank purchased a new stake in Energy Transfer in the fourth quarter worth about $35,000. Financial Life Planners bought a new position in shares of Energy Transfer during the fourth quarter valued at approximately $37,000. Finally, Tortoise Investment Management LLC lifted its holdings in shares of Energy Transfer by 111.1% during the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.9 %

NYSE:ET opened at $17.22 on Friday. The company has a 50 day simple moving average of $17.46 and a two-hundred day simple moving average of $18.51. The company has a market cap of $59.09 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. The company had revenue of $21.02 billion during the quarter, compared to analysts’ expectations of $22.28 billion. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Energy Transfer’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. Research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th will be paid a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a dividend yield of 7.61%. The ex-dividend date is Friday, May 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is currently 99.24%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ET shares. Morgan Stanley upped their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Wells Fargo & Company cut their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.09.

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.