Cobblestone Capital Advisors LLC NY Has $2.46 Million Stake in Energy Transfer LP $ET

Cobblestone Capital Advisors LLC NY lifted its stake in shares of Energy Transfer LP (NYSE:ET) by 4.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 135,393 shares of the pipeline company’s stock after purchasing an additional 5,513 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Energy Transfer were worth $2,455,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ryan Investment Management Inc. acquired a new position in shares of Energy Transfer during the second quarter worth approximately $31,000. Vision Financial Markets LLC acquired a new position in shares of Energy Transfer during the first quarter worth approximately $33,000. CNB Bank lifted its position in shares of Energy Transfer by 111.1% during the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 1,000 shares in the last quarter. Stone House Investment Management LLC acquired a new position in shares of Energy Transfer during the first quarter worth approximately $38,000. Finally, N.E.W. Advisory Services LLC acquired a new position in shares of Energy Transfer during the first quarter worth approximately $40,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Kelcy L. Warren bought 1,350,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was purchased at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the purchase, the director owned 69,178,477 shares of the company’s stock, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.28% of the company’s stock.

Energy Transfer Trading Down 0.7%

ET opened at $16.74 on Monday. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The company has a market cap of $57.45 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78. The firm has a 50 day simple moving average of $17.18 and a 200 day simple moving average of $17.41.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm had revenue of $19.24 billion during the quarter, compared to the consensus estimate of $24.07 billion. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The business’s quarterly revenue was down 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Analyst Ratings Changes

ET has been the topic of a number of research reports. TD Cowen initiated coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating and a $22.00 target price on the stock. UBS Group reissued a “buy” rating and set a $22.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. Wells Fargo & Company reissued an “overweight” rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Scotiabank began coverage on shares of Energy Transfer in a research note on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price target for the company. Finally, Cowen began coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating for the company. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.67.

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.