Private Advisor Group LLC Boosts Stake in Energy Transfer LP (NYSE:ET)

Private Advisor Group LLC lifted its stake in shares of Energy Transfer LP (NYSE:ET) by 8.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 611,157 shares of the pipeline company’s stock after buying an additional 46,821 shares during the period. Private Advisor Group LLC’s holdings in Energy Transfer were worth $9,809,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Rehmann Capital Advisory Group lifted its stake in Energy Transfer by 2.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock valued at $505,000 after acquiring an additional 633 shares during the period. Veracity Capital LLC boosted its holdings in Energy Transfer by 2.0% in the second quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock valued at $545,000 after purchasing an additional 659 shares during the last quarter. Sfmg LLC grew its position in Energy Transfer by 2.2% during the 1st quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock worth $494,000 after purchasing an additional 674 shares during the period. Morton Capital Management LLC CA raised its stake in shares of Energy Transfer by 1.6% during the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock valued at $720,000 after buying an additional 699 shares during the last quarter. Finally, FinTrust Capital Advisors LLC lifted its holdings in shares of Energy Transfer by 3.6% in the 1st quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock valued at $318,000 after buying an additional 700 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the purchase, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thomas E. Long acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the purchase, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 3,040,000 shares of company stock worth $47,667,200. Insiders own 3.28% of the company’s stock.

Analyst Ratings Changes

ET has been the topic of several analyst reports. Bank of America began coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Royal Bank of Canada lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, UBS Group increased their price target 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 MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Price Performance

Energy Transfer stock opened at $16.41 on Friday. The stock has a market capitalization of $55.29 billion, a P/E ratio of 15.05, a P/E/G ratio of 0.50 and a beta of 1.66. The company’s fifty day moving average price is $16.15 and its 200 day moving average price is $15.96. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.64.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. During the same period in the previous year, the business earned $0.25 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

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.