Northside Capital Management LLC Boosts Position in Energy Transfer LP $ET

Northside Capital Management LLC boosted its position in shares of Energy Transfer LP (NYSE:ET) by 9.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,074,617 shares of the pipeline company’s stock after purchasing an additional 186,541 shares during the quarter. Energy Transfer comprises 3.3% of Northside Capital Management LLC’s holdings, making the stock its 5th biggest position. Northside Capital Management LLC owned 0.06% of Energy Transfer worth $35,600,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after buying an additional 11,844 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new stake in Energy Transfer in the first quarter valued at about $204,000. Steward Partners Investment Advisory LLC increased its stake in shares of Energy Transfer by 6.2% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 397,626 shares of the pipeline company’s stock valued at $7,392,000 after acquiring an additional 23,252 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Energy Transfer in the 1st quarter valued at approximately $49,000. Finally, Northern Trust Corp boosted its stake in Energy Transfer by 223.5% during the 1st quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock worth $19,883,000 after acquiring an additional 738,885 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ET has been the topic of several analyst reports. Jefferies Financial Group set a $17.00 target price on shares of Energy Transfer and gave the stock a “hold” rating in a report on Tuesday, October 28th. JPMorgan Chase & Co. dropped their price objective on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Royal Bank Of Canada upgraded Energy Transfer to a “moderate buy” rating in a report on Monday. Morgan Stanley lowered their price target on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, December 2nd. Finally, Scotiabank dropped their price target on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a research report on Thursday, November 13th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.62.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren acquired 1,000,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were bought at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.28% of the stock is owned by corporate insiders.

Energy Transfer Price Performance

ET stock opened at $16.36 on Wednesday. The stock has a 50-day moving average price of $16.68 and a two-hundred day moving average price of $17.27. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The stock has a market cap of $56.15 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 0.99 and a beta of 0.65. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share 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 analyst estimates of $21.84 billion. Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 earnings per share. Equities analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were given a dividend of $0.3325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.33 dividend on an annualized basis and a yield of 8.1%. Energy Transfer’s payout ratio is currently 106.40%.

Energy Transfer 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.