Energy Transfer LP (NYSE:ET) Shares Purchased by Harbour Investments Inc.

Harbour Investments Inc. raised its holdings in Energy Transfer LP (NYSE:ET) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 119,523 shares of the pipeline company’s stock after acquiring an additional 1,066 shares during the period. Harbour Investments Inc.’s holdings in Energy Transfer were worth $1,918,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Apollon Wealth Management LLC raised its holdings in shares of Energy Transfer by 5.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 282,705 shares of the pipeline company’s stock worth $4,537,000 after acquiring an additional 13,590 shares during the period. Nations Financial Group Inc. IA ADV increased its position in Energy Transfer by 5.6% during the third quarter. Nations Financial Group Inc. IA ADV now owns 319,141 shares of the pipeline company’s stock worth $5,122,000 after purchasing an additional 17,021 shares during the last quarter. Beam Wealth Advisors Inc. raised its stake in Energy Transfer by 7.6% during the third quarter. Beam Wealth Advisors Inc. now owns 44,220 shares of the pipeline company’s stock worth $710,000 after purchasing an additional 3,137 shares during the period. Proffitt & Goodson Inc. boosted its holdings in Energy Transfer by 16.0% in the 3rd quarter. Proffitt & Goodson Inc. now owns 6,025 shares of the pipeline company’s stock valued at $97,000 after purchasing an additional 829 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Energy Transfer in the 3rd quarter valued at approximately $130,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Trading Up 0.2 %

Shares of NYSE:ET opened at $17.09 on Thursday. The company’s 50 day moving average is $16.35 and its two-hundred day moving average is $16.07. The company has a market cap of $58.51 billion, a PE ratio of 12.57, a P/E/G ratio of 0.52 and a beta of 1.66. Energy Transfer LP has a 52 week low of $13.11 and a 52 week high of $17.71. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS. Equities analysts predict that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be given a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.55%. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Wall Street Analyst Weigh In

ET has been the topic of several analyst reports. UBS Group lifted 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 Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer presently has an average rating of “Buy” and a consensus price target of $20.00.

Insider Activity

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.