CWA Asset Management Group LLC Takes Position in Energy Transfer LP (NYSE:ET)

CWA Asset Management Group LLC purchased a new stake in Energy Transfer LP (NYSE:ET) in the third quarter, Holdings Channel.com reports. The firm purchased 23,349 shares of the pipeline company’s stock, valued at approximately $375,000.

A number of other hedge funds have also recently bought and sold shares of ET. Princeton Global Asset Management LLC raised its position in shares of Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Energy Transfer in the first quarter worth $29,000. HWG Holdings LP acquired a new stake in Energy Transfer in the second quarter valued at $33,000. Sugarloaf Wealth Management LLC boosted its stake in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 750 shares during the last quarter. Finally, EdgeRock Capital LLC bought a new position in Energy Transfer during the 2nd quarter valued at $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $17.24 on Tuesday. The stock has a market capitalization of $59.00 billion, a P/E ratio of 12.68, a P/E/G ratio of 0.53 and a beta of 1.66. The firm’s 50-day moving average price is $16.30 and its two-hundred day moving average price is $16.05. Energy Transfer LP has a 52-week low of $13.11 and a 52-week high of $17.71. 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 released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.64% and a net margin of 5.90%. The business had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the previous year, the firm posted $0.31 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be issued a $0.3225 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.48%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Insider Activity at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.28% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Energy Transfer Company 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.