Mutual Advisors LLC Decreases Stock Holdings in Energy Transfer LP (NYSE:ET)

Mutual Advisors LLC reduced its position in shares of Energy Transfer LP (NYSE:ET) by 5.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 174,709 shares of the pipeline company’s stock after selling 9,193 shares during the quarter. Mutual Advisors LLC’s holdings in Energy Transfer were worth $2,865,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ET. LRI Investments LLC purchased a new stake in shares of Energy Transfer during the first quarter worth about $29,000. HWG Holdings LP purchased a new stake in Energy Transfer in the 2nd quarter worth approximately $33,000. Sugarloaf Wealth Management LLC grew its position in shares of Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares during the last quarter. Hudson Edge Investment Partners Inc. purchased a new position in shares of Energy Transfer during the second quarter valued at approximately $42,000. Finally, EdgeRock Capital LLC bought a new position in shares of Energy Transfer during the second quarter valued at approximately $42,000. Institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ET. 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 report on Wednesday, September 18th. 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 target on the stock. Finally, Royal Bank of Canada raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Price Performance

ET stock opened at $16.46 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 firm has a 50 day moving average price of $16.18 and a 200-day moving average price of $15.98. Energy Transfer LP has a 52-week low of $12.90 and a 52-week high of $16.64. The firm has a market capitalization of $55.47 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.49 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data 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). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter in the previous year, the firm posted $0.25 EPS. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities research analysts forecast that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.3225 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 7.84%. Energy Transfer’s dividend payout ratio is currently 117.43%.

Insiders Place Their Bets

In other news, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now directly owns 123,385,650 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Energy Transfer news, Director Kelcy L. Warren acquired 3,000,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas E. Long bought 20,000 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 3,040,000 shares of company stock valued at $47,667,200. Insiders own 3.28% of the company’s stock.

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.