Lake Street Advisors Group LLC Increases Holdings in Energy Transfer LP (NYSE:ET)

Lake Street Advisors Group LLC raised its holdings in shares of Energy Transfer LP (NYSE:ET) by 13.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,103 shares of the pipeline company’s stock after acquiring an additional 3,285 shares during the period. Lake Street Advisors Group LLC’s holdings in Energy Transfer were worth $451,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. LRI Investments LLC purchased a new position in Energy Transfer in the 1st quarter worth $29,000. HWG Holdings LP bought a new position in shares of Energy Transfer during the second quarter valued at about $33,000. Sugarloaf Wealth Management LLC increased its holdings in shares of Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares during the period. EdgeRock Capital LLC bought a new stake in shares of Energy Transfer in the 2nd quarter valued at about $42,000. Finally, Hudson Edge Investment Partners Inc. purchased a new stake in Energy Transfer during the 2nd quarter valued at about $42,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Trading Up 0.3 %

NYSE ET opened at $16.45 on Friday. The firm has a market capitalization of $56.30 billion, a PE ratio of 13.82, a P/E/G ratio of 0.49 and a beta of 1.66. The stock’s 50 day moving average is $16.16 and its 200 day moving average is $15.96. Energy Transfer LP has a twelve month low of $12.90 and a twelve month high of $16.64. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS 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 business had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. During the same period in the previous year, the firm earned $0.25 EPS. The company’s revenue was up 13.1% on a year-over-year basis. Research analysts forecast that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Bank of America assumed coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Finally, UBS Group boosted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $20.00.

Insider Activity at Energy Transfer

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 3,040,000 shares of company stock valued at $47,667,200 in the last 90 days. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Profile

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.