Requisite Capital Management LLC Lowers Stake in Energy Transfer LP $ET

Requisite Capital Management LLC trimmed its stake in shares of Energy Transfer LP (NYSE:ET) by 4.7% in the second quarter, according to the company in its most recent 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 about 1.6% of Requisite Capital Management LLC’s portfolio, making the stock its 10th 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 also recently modified their holdings of the company. Basepoint Wealth LLC acquired a new position in Energy Transfer in the fourth quarter valued at about $25,000. Osbon Capital Management LLC bought a new stake in Energy Transfer during the second quarter worth about $25,000. Gables Capital Management Inc. grew its stake in Energy Transfer by 60.0% during the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after buying an additional 600 shares in the last quarter. Sarver Vrooman Wealth Advisors acquired a new stake in Energy Transfer during the fourth quarter worth about $32,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in Energy Transfer in the 1st quarter valued at about $35,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 18th. TD Cowen reissued a “buy” rating and issued a $25.00 price objective (up from $24.00) on shares of Energy Transfer in a research note on Monday, August 10th. Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Citigroup restated a “buy” rating and set a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research report on Friday, August 7th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Energy Transfer in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.08.

Energy Transfer Stock Down 0.1%

Shares of NYSE:ET opened at $21.49 on Wednesday. The company has a fifty day moving average of $20.32 and a 200-day moving average of $19.58. The company has a market capitalization of $74.00 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 0.73 and a beta of 0.57. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $21.77.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.21. The company had revenue of $34.33 billion for the quarter, compared to the consensus estimate of $27.71 billion. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.Energy Transfer’s revenue for the quarter was up 78.4% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. On average, equities analysts predict that Energy Transfer LP will post 1.7 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, August 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.3%. Energy Transfer’s payout ratio is 92.52%.

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 shares were bought at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the acquisition, the director owned 208,046 shares in the company, valued at approximately $4,208,770.58. This trade represents a 6.32% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelcy L. Warren acquired 647,968 shares of the stock in a transaction dated Wednesday, August 19th. The stock was purchased at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the purchase, the director directly owned 147,901,879 shares of the company’s stock, valued at $3,144,393,947.54. This trade represents a 0.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 1,012,359 shares of company stock worth $21,513,543. Company insiders own 3.28% of the company’s stock.

About Energy Transfer

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.