Energy Transfer LP (NYSE:ET) Position Raised by Plan Group Financial LLC

Plan Group Financial LLC increased its position in shares of Energy Transfer LP (NYSE:ET) by 14.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,274 shares of the pipeline company’s stock after purchasing an additional 5,424 shares during the period. Plan Group Financial LLC’s holdings in Energy Transfer were worth $711,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LRI Investments LLC purchased a new position in Energy Transfer during the 1st quarter worth approximately $29,000. HWG Holdings LP purchased a new position in Energy Transfer during the 2nd quarter worth approximately $33,000. Sugarloaf Wealth Management LLC grew its position 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 worth $40,000 after purchasing an additional 750 shares in the last quarter. Hudson Edge Investment Partners Inc. purchased a new position in Energy Transfer during the 2nd quarter worth approximately $42,000. Finally, EdgeRock Capital LLC purchased a new position in Energy Transfer during the 2nd quarter worth approximately $42,000. Institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

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

Energy Transfer Trading Down 0.2 %

Shares of NYSE:ET opened at $16.35 on Wednesday. The stock has a market capitalization of $55.10 billion, a PE ratio of 15.03, a P/E/G ratio of 0.50 and a beta of 1.66. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.64. The firm has a fifty day moving average price of $16.14 and a 200 day moving average price of $15.95.

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

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a dividend of $0.32 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 7.83%. Energy Transfer’s payout ratio is currently 117.43%.

Insiders Place Their Bets

In other news, Director Kelcy L. Warren bought 3,000,000 shares of the business’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 $47,040,000.00. Following the transaction, the director now directly 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 3,040,000 shares of company stock valued at $47,667,200 in the last quarter. Insiders own 3.28% of the company’s stock.

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.