Energy Transfer LP $ET Stock Holdings Lifted by Quent Capital LLC

Quent Capital LLC increased its position in shares of Energy Transfer LP (NYSE:ET) by 3,581.1% during the second quarter, Holdings Channel reports. The fund owned 137,122 shares of the pipeline company’s stock after acquiring an additional 133,397 shares during the quarter. Quent Capital LLC’s holdings in Energy Transfer were worth $2,622,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its stake in Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after purchasing an additional 11,844 shares during the period. AQR Capital Management LLC boosted its position in shares of Energy Transfer by 62.8% in the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock worth $391,000 after buying an additional 8,118 shares during the period. Geode Capital Management LLC boosted its position in shares of Energy Transfer by 6.2% in the second quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock worth $2,455,000 after buying an additional 7,901 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Energy Transfer by 436.5% during the second quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock valued at $76,000 after buying an additional 3,400 shares in the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of Energy Transfer by 5.6% during the second quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock valued at $923,000 after buying an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.5%

NYSE ET opened at $20.95 on Tuesday. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $21.11. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $72.14 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 0.75 and a beta of 0.55. The firm’s fifty day simple moving average is $19.80 and its 200-day simple moving average is $19.35.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.21. The business had revenue of $34.33 billion during the quarter, compared to analyst estimates of $27.71 billion. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.Energy Transfer’s quarterly revenue was up 78.4% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.63 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be paid a dividend of $0.34 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.5%. Energy Transfer’s dividend payout ratio (DPR) is 92.52%.

Wall Street Analysts Forecast Growth

ET has been the subject of several research analyst reports. Royal Bank Of Canada reissued an “outperform” rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, July 21st. Zacks Research cut Energy Transfer from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded Energy Transfer from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Barclays reiterated an “overweight” rating and issued a $24.00 target price (up from $23.00) on shares of Energy Transfer in a report on Wednesday, August 5th. Finally, Stifel Nicolaus raised their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.92.

Insider Activity

In other news, Director James Richard Perry purchased 12,359 shares of Energy Transfer stock in a transaction dated Friday, August 7th. The stock was acquired at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the acquisition, the director directly owned 208,046 shares in the company, valued at $4,208,770.58. This represents a 6.32% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.28% of the stock is currently owned by corporate insiders.

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.