3,792 Shares in Energy Transfer LP (NYSE:ET) Bought by Capital Performance Advisors LLP

Capital Performance Advisors LLP bought a new position in Energy Transfer LP (NYSE:ET) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,792 shares of the pipeline company’s stock, valued at approximately $61,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC boosted its position in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the period. LRI Investments LLC purchased a new stake in Energy Transfer during the first quarter valued at about $29,000. HWG Holdings LP purchased a new stake in Energy Transfer during the second quarter valued at about $33,000. Sugarloaf Wealth Management LLC boosted its position in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after buying an additional 750 shares during the period. Finally, Hudson Edge Investment Partners Inc. purchased a new stake in Energy Transfer during the second quarter valued at about $42,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost 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 in the company, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the firm’s stock in a transaction 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 owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were acquired 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 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 over the last three months. Corporate insiders own 3.28% of the company’s stock.

Wall Street Analysts Forecast Growth

ET has been the subject of several analyst reports. UBS Group upped their price target 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. Royal Bank of Canada upped their price target 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. Finally, Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Eight equities research 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.

Energy Transfer Stock Performance

Energy Transfer stock opened at $17.30 on Friday. 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 50-day moving average of $16.30 and a 200-day moving average of $16.05. The firm has a market cap of $59.20 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.53 and a beta of 1.66. Energy Transfer LP has a 1-year low of $13.01 and a 1-year high of $17.71.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.64%. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. Energy Transfer’s revenue was up .2% on a year-over-year basis. Sell-side analysts expect that Energy Transfer LP will post 1.35 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be paid a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 7.46%. The ex-dividend date is Friday, November 8th. Energy Transfer’s payout ratio is currently 94.12%.

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.