Lincoln National Corp Has $866,000 Stake in Energy Transfer LP (NYSE:ET)

Lincoln National Corp grew its position in Energy Transfer LP (NYSE:ET – Get Rating) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,454 shares of the pipeline company’s stock after purchasing an additional 2,585 shares during the period. Lincoln National Corp’s holdings in Energy Transfer were worth $866,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ET. Proficio Capital Partners LLC bought a new stake in Energy Transfer during the third quarter worth about $220,000. EdgeRock Capital LLC bought a new stake in Energy Transfer during the third quarter worth about $29,000. Ronald Blue Trust Inc. bought a new stake in Energy Transfer during the second quarter worth about $31,000. Selective Wealth Management Inc. raised its holdings in Energy Transfer by 383.1% during the second quarter. Selective Wealth Management Inc. now owns 3,092 shares of the pipeline company’s stock worth $31,000 after acquiring an additional 2,452 shares in the last quarter. Finally, Urban Wealth Management LLC bought a new stake in Energy Transfer during the second quarter worth about $32,000. 37.81% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

Energy Transfer stock opened at $13.07 on Wednesday. Energy Transfer LP has a 12 month low of $9.02 and a 12 month high of $13.67. The stock’s 50 day moving average is $12.15 and its 200-day moving average is $11.73. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $40.37 billion, a price-to-earnings ratio of 9.75 and a beta of 1.75.

Energy Transfer (NYSE:ET – Get Rating) last posted its earnings results on Tuesday, November 1st. The pipeline company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Energy Transfer had a return on equity of 13.01% and a net margin of 5.02%. The company had revenue of $22.94 billion for the quarter, compared to the consensus estimate of $27.57 billion. Equities research analysts expect that Energy Transfer LP will post 1.41 EPS for the current year.

Insider Activity

In related news, Chairman Kelcy L. Warren purchased 155,000 shares of Energy Transfer stock in a transaction that occurred on Monday, November 7th. The shares were acquired at an average price of $12.38 per share, with a total value of $1,918,900.00. Following the completion of the transaction, the chairman now directly owns 52,733,477 shares of the company’s stock, valued at approximately $652,840,445.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Kelcy L. Warren purchased 500,000 shares of the business’s stock in a transaction on Tuesday, November 22nd. The stock was acquired at an average price of $12.36 per share, for a total transaction of $6,180,000.00. Following the purchase, the chairman now owns 54,278,477 shares of the company’s stock, valued at $670,881,975.72. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Kelcy L. Warren purchased 155,000 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The shares were acquired at an average price of $12.38 per share, for a total transaction of $1,918,900.00. Following the completion of the acquisition, the chairman now directly owns 52,733,477 shares of the company’s stock, valued at approximately $652,840,445.26. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 740,000 shares of company stock valued at $9,082,900. 3.28% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ET. Barclays upped their target price on Energy Transfer from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, January 18th. Mizuho upped their target price on Energy Transfer from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, November 4th. Morgan Stanley upped their price objective on Energy Transfer from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday, January 9th. Finally, Citigroup began coverage on Energy Transfer in a research note on Thursday, December 8th. They issued a “buy” rating and a $16.00 price objective on the stock. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $16.00.

About Energy Transfer

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Energy Transfer LP provides natural gas pipeline transportation and transmission services. It operates through the following segments: Intrastate Transportation and Storage, Interstate Transportation and Storage, Midstream, NGL and Refined Products Transportation and Services, Crude Oil Transportation and Services, Investment in Sunoco LP, Investment in USAC, and All Other.