Cutler Capital Management LLC Cuts Holdings in Energy Transfer LP (NYSE:ET)

Cutler Capital Management LLC cut its position in Energy Transfer LP (NYSE:ET) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 441,474 shares of the pipeline company’s stock after selling 14,603 shares during the period. Energy Transfer accounts for approximately 3.0% of Cutler Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. Cutler Capital Management LLC’s holdings in Energy Transfer were worth $8,648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake in Energy Transfer by 12,090.8% in the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company’s stock worth $244,005,000 after purchasing an additional 12,353,441 shares during the period. FMR LLC grew its position in shares of Energy Transfer by 15.7% during the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock valued at $756,840,000 after purchasing an additional 5,254,721 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its position in shares of Energy Transfer by 7.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock worth $469,920,000 after buying an additional 1,723,683 shares in the last quarter. Wells Fargo & Company MN grew its position in Energy Transfer by 10.0% during the fourth quarter. Wells Fargo & Company MN now owns 11,662,581 shares of the pipeline company’s stock worth $228,470,000 after buying an additional 1,058,603 shares in the last quarter. Finally, Hartree Partners LP bought a new position in Energy Transfer in the 4th quarter worth about $16,083,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Trading Down 2.6 %

Shares of NYSE:ET opened at $15.46 on Wednesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The firm has a market capitalization of $53.03 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.64 and a beta of 1.32. The business’s 50-day moving average is $18.90 and its 200 day moving average is $18.43. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. On average, research analysts predict 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 Wednesday, February 19th. Investors of record on Friday, February 7th were paid a $0.325 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 8.41%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Citigroup restated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. The Goldman Sachs Group lifted their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Morgan Stanley boosted their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.09.

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.