Energy Transfer LP (NYSE:ET) Stock Holdings Lifted by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lifted its stake in shares of Energy Transfer LP (NYSE:ET) by 21.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,642 shares of the pipeline company’s stock after acquiring an additional 8,117 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Energy Transfer were worth $749,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Ariston Services Group purchased a new position in shares of Energy Transfer in the third quarter worth approximately $245,000. Pathway Financial Advisers LLC grew its position in Energy Transfer by 1,837.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock worth $21,489,000 after purchasing an additional 1,269,778 shares in the last quarter. Adell Harriman & Carpenter Inc. grew its position in Energy Transfer by 16.5% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 218,647 shares of the pipeline company’s stock worth $3,509,000 after purchasing an additional 30,997 shares in the last quarter. Childress Capital Advisors LLC lifted its holdings in shares of Energy Transfer by 4.4% in the third quarter. Childress Capital Advisors LLC now owns 668,007 shares of the pipeline company’s stock valued at $10,722,000 after purchasing an additional 28,200 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its position in shares of Energy Transfer by 2.3% in the third quarter. Fidelis Capital Partners LLC now owns 31,858 shares of the pipeline company’s stock worth $522,000 after buying an additional 709 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Energy Transfer

In related news, CEO Thomas E. Long bought 20,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Energy Transfer news, Director Kelcy L. Warren acquired 3,000,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas E. Long bought 20,000 shares of the stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $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 ninety days, insiders have purchased 3,040,000 shares of company stock valued at $47,667,200. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Price Performance

NYSE ET opened at $16.43 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $56.23 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a 12-month low of $13.01 and a 12-month high of $16.64. The company has a 50 day moving average price of $16.19 and a two-hundred day moving average price of $16.00.

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

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.85%. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio is 107.56%.

Analyst Ratings Changes

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