Farther Finance Advisors LLC Raises Stock Position in Energy Transfer LP (NYSE:ET)

Farther Finance Advisors LLC increased its stake in Energy Transfer LP (NYSE:ET) by 1,884.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,544 shares of the pipeline company’s stock after purchasing an additional 31,854 shares during the quarter. Farther Finance Advisors LLC’s holdings in Energy Transfer were worth $538,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ET. LRI Investments LLC purchased a new stake in Energy Transfer in the first quarter worth approximately $29,000. HWG Holdings LP purchased a new position in shares of Energy Transfer during the 2nd quarter worth $33,000. Sugarloaf Wealth Management LLC boosted its stake in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares during the last quarter. EdgeRock Capital LLC purchased a new position in shares of Energy Transfer during the 2nd quarter worth $42,000. Finally, Hudson Edge Investment Partners Inc. purchased a new position in shares of Energy Transfer during the 2nd quarter worth $42,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Insider Buying and Selling at Energy Transfer

In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The shares were purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kelcy L. Warren bought 3,000,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. 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 worth $47,667,200. Insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $17.43 on Thursday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The company has a market cap of $59.63 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.50 and a beta of 1.66. The firm’s fifty day moving average is $16.25 and its two-hundred day moving average is $16.03. Energy Transfer LP has a 52-week low of $13.01 and a 52-week high of $17.50.

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

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be issued a $0.3225 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 7.40%. Energy Transfer’s dividend payout ratio is currently 107.56%.

Analyst Ratings Changes

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