Requisite Capital Management LLC Sells 24,650 Shares of Energy Transfer LP $ET

Requisite Capital Management LLC lessened its position in shares of Energy Transfer LP (NYSE:ET) by 4.7% in the second quarter, according to 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 makes up approximately 1.6% of Requisite Capital Management LLC’s investment portfolio, making the stock its 10th largest holding. Requisite Capital Management LLC’s holdings in Energy Transfer were worth $9,568,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in shares of Energy Transfer in the 2nd quarter worth approximately $203,000. Nwam LLC increased its position in shares of Energy Transfer by 15.0% during the second quarter. Nwam LLC now owns 41,856 shares of the pipeline company’s stock worth $800,000 after buying an additional 5,466 shares during the period. BTG Pactual Asset Management US LLC raised its stake in Energy Transfer by 11.3% during the second quarter. BTG Pactual Asset Management US LLC now owns 15,524 shares of the pipeline company’s stock worth $300,000 after buying an additional 1,571 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Energy Transfer during the second quarter worth $258,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Energy Transfer by 3.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 341,205 shares of the pipeline company’s stock valued at $6,524,000 after buying an additional 11,803 shares during the period. Institutional investors own 38.22% of the company’s stock.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren acquired 647,968 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were purchased at an average cost of $21.26 per share, with a total value of $13,775,799.68. Following the acquisition, the director directly owned 147,901,879 shares of the company’s stock, valued at $3,144,393,947.54. The trade was a 0.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Richard Perry acquired 12,359 shares of Energy Transfer stock in a transaction on Friday, August 7th. The stock was purchased at an average cost 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 in the company, valued at $4,208,770.58. This represents a 6.32% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 1,012,359 shares of company stock valued at $21,513,543 in the last quarter. 3.28% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ET has been the topic of a number of research analyst reports. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Morgan Stanley boosted their price objective on Energy Transfer from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 18th. Citigroup restated a “buy” rating and set a $24.00 target price (up from $23.00) on shares of Energy Transfer in a research report on Friday, August 7th. Truist Financial raised their target price on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Wall Street Zen upgraded Energy Transfer from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average target price of $24.08.

Energy Transfer Stock Performance

Shares of ET opened at $21.49 on Wednesday. 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 stock has a 50-day moving average of $20.32 and a 200-day moving average of $19.58. The company has a market cap of $74.00 billion, a PE ratio of 14.62, a P/E/G ratio of 0.73 and a beta of 0.57. Energy Transfer LP has a one year low of $16.18 and a one year high of $21.77.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.21. The business 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%.The firm’s revenue for the quarter was up 78.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. On average, equities research analysts predict that Energy Transfer LP will post 1.7 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Investors of record on Friday, August 7th were given 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 annualized dividend and a dividend yield of 6.3%. Energy Transfer’s payout ratio is presently 92.52%.

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.