Requisite Capital Management LLC Acquires 32,265 Shares of Energy Transfer LP (NYSE:ET)

Requisite Capital Management LLC lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 6.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 550,610 shares of the pipeline company’s stock after purchasing an additional 32,265 shares during the quarter. Energy Transfer makes up about 1.9% of Requisite Capital Management LLC’s holdings, making the stock its 10th biggest position. Requisite Capital Management LLC’s holdings in Energy Transfer were worth $8,661,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ET. Alps Advisors Inc. grew its stake in Energy Transfer by 14.5% in the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock valued at $1,033,541,000 after buying an additional 9,341,798 shares during the last quarter. UBS Group AG grew its stake in Energy Transfer by 13.3% in the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock valued at $395,270,000 after buying an additional 3,368,427 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Energy Transfer by 38.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock valued at $353,576,000 after buying an additional 7,097,074 shares during the last quarter. Clearbridge Investments LLC grew its stake in Energy Transfer by 18.5% in the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after buying an additional 3,976,676 shares during the last quarter. Finally, First Reserve GP XIII Ltd bought a new stake in Energy Transfer in the 4th quarter valued at $322,097,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET stock traded up $0.04 during trading on Tuesday, hitting $16.40. 10,607,853 shares of the stock traded hands, compared to its average volume of 11,886,979. Energy Transfer LP has a one year low of $12.46 and a one year high of $16.48. The stock has a market cap of $55.27 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 0.44 and a beta of 1.66. The company has a 50 day simple moving average of $15.74 and a 200 day simple moving average of $15.04. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The firm had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. During the same period in the prior year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. Equities analysts expect that Energy Transfer LP will post 1.45 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were issued a dividend of $0.317 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 7.73%. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s dividend payout ratio (DPR) is currently 116.51%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Mizuho increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. UBS Group increased their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Morgan Stanley increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Finally, Stifel Nicolaus raised their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.29.

About Energy Transfer

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.