Quadcap Wealth Management LLC Sells 608 Shares of Energy Transfer LP $ET

Quadcap Wealth Management LLC decreased its position in Energy Transfer LP (NYSE:ET) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,363 shares of the pipeline company’s stock after selling 608 shares during the quarter. Quadcap Wealth Management LLC’s holdings in Energy Transfer were worth $323,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new position in shares of Energy Transfer during the fourth quarter worth about $26,000. Fourth Dimension Wealth LLC acquired a new position in Energy Transfer during the 4th quarter worth approximately $29,000. Vision Financial Markets LLC acquired a new position in Energy Transfer during the 1st quarter worth approximately $33,000. HWG Holdings LP bought a new position in shares of Energy Transfer during the 1st quarter worth approximately $38,000. Finally, Stone House Investment Management LLC acquired a new stake in shares of Energy Transfer in the first quarter valued at approximately $38,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren bought 1,350,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were bought at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the purchase, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the sale, the director directly owned 24,523 shares of the company’s stock, valued at approximately $453,185.04. The trade was a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Stock Performance

ET opened at $17.57 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The business has a 50 day moving average of $17.65 and a 200-day moving average of $17.85. The stock has a market cap of $60.30 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.93 and a beta of 0.83.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business had revenue of $19.24 billion for the quarter, compared to analysts’ expectations of $24.07 billion. During the same quarter in the prior year, the business earned $0.35 EPS. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were given a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a dividend yield of 7.5%. Energy Transfer’s dividend payout ratio (DPR) is currently 102.33%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Wells Fargo & Company reissued an “overweight” rating and issued a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. TD Cowen started coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating and a $22.00 price target on the stock. Mizuho increased their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. lowered their target price on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. Finally, Morgan Stanley dropped their target price on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.50.

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.