Requisite Capital Management LLC Trims Stock Holdings in Energy Transfer LP $ET

Requisite Capital Management LLC decreased its stake in Energy Transfer LP (NYSE:ET) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 500,433 shares of the pipeline company’s stock after selling 24,650 shares during the quarter. Energy Transfer comprises 1.6% of Requisite Capital Management LLC’s portfolio, making the stock its 8th biggest holding. Requisite Capital Management LLC’s holdings in Energy Transfer were worth $9,568,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. OneDigital Investment Advisors LLC lifted its position in Energy Transfer by 6.3% in the second quarter. OneDigital Investment Advisors LLC now owns 19,277 shares of the pipeline company’s stock worth $369,000 after buying an additional 1,150 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in shares of Energy Transfer in the second quarter valued at $438,000. Continuum Advisory LLC purchased a new stake in Energy Transfer in the 2nd quarter worth about $63,000. Argent Trust Co boosted its stake in shares of Energy Transfer by 2.1% during the second quarter. Argent Trust Co now owns 26,035 shares of the pipeline company’s stock valued at $498,000 after purchasing an additional 529 shares during the period. Finally, SCS Capital Management LLC boosted its holdings in shares of Energy Transfer by 1,859.8% in the second quarter. SCS Capital Management LLC now owns 1,942,908 shares of the pipeline company’s stock valued at $37,148,000 after purchasing an additional 1,843,771 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.5%

Shares of NYSE ET opened at $20.95 on Tuesday. The company has a market capitalization of $72.14 billion, a P/E ratio of 14.25, a P/E/G ratio of 0.75 and a beta of 0.55. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94. The company has a 50 day simple moving average of $19.80 and a 200-day simple moving average of $19.35. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $21.11.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.21. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The company had revenue of $34.33 billion during the quarter, compared to analyst estimates of $27.71 billion. During the same period in the prior year, the business posted $0.32 earnings per share. The firm’s revenue for the quarter was up 78.4% compared to the same quarter last year. On average, equities research analysts predict that Energy Transfer LP will post 1.63 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be issued a $0.34 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, August 7th. This represents a $1.36 annualized dividend and a yield of 6.5%. Energy Transfer’s payout ratio is presently 92.52%.

Analyst Upgrades and Downgrades

Several research firms recently commented on ET. Truist Financial boosted their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Citigroup reiterated a “buy” rating and issued a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research report on Friday, August 7th. Barclays reiterated an “overweight” rating and set a $24.00 target price (up from $23.00) on shares of Energy Transfer in a research report on Wednesday, August 5th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Finally, Weiss Ratings raised shares of Energy Transfer from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.92.

Insider Transactions at Energy Transfer

In related news, Director James Richard Perry bought 12,359 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were bought at an average price of $20.23 per share, with a total value of $250,022.57. Following the completion of the transaction, the director directly owned 208,046 shares of the company’s stock, valued at $4,208,770.58. This represents a 6.32% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.28% of the company’s stock.

Energy Transfer Company 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.