Energy Transfer LP $ET Position Boosted by Eagle Global Advisors LLC

Eagle Global Advisors LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 6.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,466,059 shares of the pipeline company’s stock after purchasing an additional 363,623 shares during the period. Energy Transfer comprises 4.3% of Eagle Global Advisors LLC’s portfolio, making the stock its 2nd largest holding. Eagle Global Advisors LLC’s holdings in Energy Transfer were worth $110,958,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Ryan Investment Management Inc. acquired a new position in Energy Transfer in the 2nd quarter valued at approximately $31,000. CNB Bank boosted its stake in shares of Energy Transfer by 111.1% during the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after buying an additional 1,000 shares during the period. HHM Wealth Advisors LLC grew its holdings in shares of Energy Transfer by 54.4% during the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 800 shares in the last quarter. Crowley Wealth Management Inc. purchased a new position in shares of Energy Transfer during the 2nd quarter valued at $44,000. Finally, FSC Wealth Advisors LLC acquired a new position in shares of Energy Transfer in the second quarter worth $50,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Energy Transfer news, Director Kelcy L. Warren purchased 1,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was purchased at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the acquisition, the director directly owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 3.28% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on ET. Scotiabank reduced their price objective on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a research report on Thursday, November 13th. JPMorgan Chase & Co. reduced their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Royal Bank Of Canada upgraded Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Barclays reaffirmed an “overweight” rating and set a $22.00 price objective (down previously from $25.00) on shares of Energy Transfer in a research report on Monday. Finally, Morgan Stanley decreased their target price on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Tuesday, December 2nd. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $17.43 on Thursday. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The firm has a market cap of $59.85 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 0.91 and a beta of 0.66. The firm’s 50-day simple moving average is $16.61 and its 200-day simple moving average is $17.08. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.06). The firm had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 earnings per share. As a group, research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were given a dividend of $0.3325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, November 7th. This represents a $1.33 dividend on an annualized basis and a yield of 7.6%. Energy Transfer’s dividend payout ratio is currently 106.40%.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.