Sugarloaf Wealth Management LLC Increases Stock Holdings in Energy Transfer LP (NYSE:ET)

Sugarloaf Wealth Management LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 43.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,472 shares of the pipeline company’s stock after purchasing an additional 750 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in Energy Transfer were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Rehmann Capital Advisory Group increased its position in Energy Transfer by 2.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock worth $505,000 after purchasing an additional 633 shares in the last quarter. Veracity Capital LLC increased its position in Energy Transfer by 2.0% during the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock worth $545,000 after purchasing an additional 659 shares in the last quarter. Sfmg LLC increased its position in Energy Transfer by 2.2% during the 1st quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock worth $494,000 after purchasing an additional 674 shares in the last quarter. Morton Capital Management LLC CA boosted its stake in Energy Transfer by 1.6% in the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock worth $720,000 after buying an additional 699 shares during the last quarter. Finally, FinTrust Capital Advisors LLC boosted its stake in Energy Transfer by 3.6% in the 1st quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock worth $318,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

ET stock opened at $16.16 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. The firm has a market cap of $54.46 billion, a P/E ratio of 14.83, a P/E/G ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a 12-month low of $12.90 and a 12-month high of $16.50. The stock’s 50 day simple moving average is $16.03 and its 200 day simple moving average is $15.90.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same period in the prior year, the business earned $0.25 earnings per share. Energy Transfer’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, equities research analysts predict that Energy Transfer LP will post 1.35 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were paid a $0.32 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 7.92%. Energy Transfer’s dividend payout ratio is presently 117.43%.

Insider Transactions at Energy Transfer

In other news, EVP Gregory G. Mcilwain bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Gregory G. Mcilwain bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 3,040,000 shares of company stock valued at $47,667,200. 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. JPMorgan Chase & Co. raised their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Mizuho lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Finally, UBS Group lifted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $20.00.

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.