Moors & Cabot Inc. Lowers Position in Energy Transfer LP $ET

Moors & Cabot Inc. decreased its holdings in shares of Energy Transfer LP (NYSE:ET) by 8.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 428,153 shares of the pipeline company’s stock after selling 40,926 shares during the period. Moors & Cabot Inc.’s holdings in Energy Transfer were worth $7,347,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quantum Private Wealth LLC raised its holdings in shares of Energy Transfer by 0.5% in the 2nd quarter. Quantum Private Wealth LLC now owns 116,515 shares of the pipeline company’s stock valued at $2,112,000 after acquiring an additional 627 shares in the last quarter. HBK Sorce Advisory LLC grew its holdings in shares of Energy Transfer by 3.4% during the third quarter. HBK Sorce Advisory LLC now owns 19,018 shares of the pipeline company’s stock worth $321,000 after purchasing an additional 628 shares in the last quarter. Magnus Financial Group LLC grew its holdings in shares of Energy Transfer by 2.0% during the third quarter. Magnus Financial Group LLC now owns 31,430 shares of the pipeline company’s stock worth $539,000 after purchasing an additional 629 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of Energy Transfer by 1.7% in the third quarter. Perigon Wealth Management LLC now owns 39,585 shares of the pipeline company’s stock worth $679,000 after purchasing an additional 644 shares during the last quarter. Finally, Veracity Capital LLC increased its position in shares of Energy Transfer by 1.9% in the third quarter. Veracity Capital LLC now owns 36,791 shares of the pipeline company’s stock worth $631,000 after purchasing an additional 689 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $18.76 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.22 and a debt-to-equity ratio of 1.50. The stock has a market cap of $64.52 billion, a PE ratio of 15.50, a PEG ratio of 1.02 and a beta of 0.63. The company’s fifty day moving average is $18.18 and its 200 day moving average is $17.31. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $19.30.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The company had revenue of $25.32 billion during the quarter, compared to analysts’ expectations of $23.56 billion. During the same quarter in the prior year, the firm posted $0.29 EPS. The firm’s quarterly revenue was up 29.6% on a year-over-year basis. Research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were paid a $0.335 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, February 6th. This represents a $1.34 dividend on an annualized basis and a yield of 7.1%. Energy Transfer’s payout ratio is presently 110.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ET shares. Barclays reissued an “overweight” rating and issued a $22.00 price target (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. Wells Fargo & Company lifted their price target on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Wednesday, January 7th. Finally, Royal Bank Of Canada upgraded Energy Transfer to a “moderate buy” rating in a research report on Monday, December 15th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

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.