Energy Transfer LP (NYSE:ET) Stock Holdings Lowered by Pathstone Holdings LLC

Pathstone Holdings LLC reduced its holdings in Energy Transfer LP (NYSE:ET) by 4.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 796,447 shares of the pipeline company’s stock after selling 33,922 shares during the quarter. Pathstone Holdings LLC’s holdings in Energy Transfer were worth $12,783,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Princeton Global Asset Management LLC raised its holdings in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. increased its stake in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Energy Transfer during the 1st quarter worth $29,000. HWG Holdings LP acquired a new position in shares of Energy Transfer during the 2nd quarter worth $33,000. Finally, Sugarloaf Wealth Management LLC increased its stake in shares of 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 during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Insider Activity

In other Energy Transfer news, EVP Gregory G. Mcilwain acquired 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was bought 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 owns 591,211 shares in the company, valued at $9,270,188.48. This represents a 3.50 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.28% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ET. Royal Bank of Canada upped 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. Bank of America began coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Finally, UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $20.00.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $18.29 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer LP has a fifty-two week low of $13.11 and a fifty-two week high of $18.37. The firm has a fifty day moving average price of $16.55 and a two-hundred day moving average price of $16.14. The company has a market cap of $62.62 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 0.53 and a beta of 1.66.

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

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.05%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is 94.85%.

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.