Brighton Jones LLC Acquires 1,094 Shares of Energy Transfer LP (NYSE:ET)

Brighton Jones LLC grew its position in shares of Energy Transfer LP (NYSE:ET) by 9.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 12,686 shares of the pipeline company’s stock after purchasing an additional 1,094 shares during the period. Brighton Jones LLC’s holdings in Energy Transfer were worth $204,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ET. Tortoise Capital Advisors L.L.C. grew its holdings in Energy Transfer by 12.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after buying an additional 4,141,715 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Energy Transfer by 1,491.0% in the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after acquiring an additional 3,913,266 shares in the last quarter. Natixis raised its holdings in shares of Energy Transfer by 20.0% in the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after acquiring an additional 2,999,300 shares in the last quarter. Payden & Rygel Investment Group bought a new stake in shares of Energy Transfer in the first quarter valued at about $20,164,000. Finally, Merewether Investment Management LP grew its stake in Energy Transfer by 22.3% in the second quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock valued at $106,919,000 after purchasing an additional 1,200,501 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Insider Transactions at Energy Transfer

In other news, CEO Thomas E. Long purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas E. Long purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 3,040,000 shares of company stock valued at $47,667,200. Corporate insiders own 3.28% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Energy Transfer Price Performance

Shares of NYSE ET opened at $16.45 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. Energy Transfer LP has a fifty-two week low of $12.90 and a fifty-two week high of $16.64. The firm has a market capitalization of $55.44 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 0.49 and a beta of 1.66. The stock’s 50-day simple moving average is $16.16 and its 200-day simple moving average is $15.97.

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 business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same period last year, the business posted $0.25 EPS. Energy Transfer’s revenue was up 13.1% on a year-over-year basis. As a group, equities research analysts forecast that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

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.