Transcend Capital Advisors LLC Sells 31,478 Shares of Energy Transfer LP $ET

Transcend Capital Advisors LLC lowered its position in shares of Energy Transfer LP (NYSE:ET) by 30.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,371 shares of the pipeline company’s stock after selling 31,478 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Energy Transfer were worth $1,330,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ryan Investment Management Inc. acquired a new stake in shares of Energy Transfer during the second quarter worth $31,000. Vision Financial Markets LLC acquired a new stake in shares of Energy Transfer during the first quarter worth $33,000. CNB Bank lifted its holdings 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 buying an additional 1,000 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Energy Transfer during the first quarter worth $38,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Energy Transfer during the first quarter worth $40,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the transaction, the director directly owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Stock Up 1.1%

ET stock opened at $16.92 on Tuesday. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The business has a 50-day simple moving average of $17.17 and a 200 day simple moving average of $17.41. The company has a market cap of $58.06 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ET shares. Cowen started coverage on Energy Transfer in a report on Monday, July 7th. They set a “buy” rating for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. TD Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating and a $22.00 price target for the company. UBS Group reaffirmed a “buy” rating and issued a $22.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.67.

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.