Warther Private Wealth LLC Has $6.04 Million Position in Energy Transfer LP $ET

Warther Private Wealth LLC lifted its position in shares of Energy Transfer LP (NYSE:ET) by 1,326.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 333,025 shares of the pipeline company’s stock after purchasing an additional 309,675 shares during the quarter. Energy Transfer accounts for about 1.6% of Warther Private Wealth LLC’s investment portfolio, making the stock its 15th biggest holding. Warther Private Wealth LLC’s holdings in Energy Transfer were worth $6,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. Forum Financial Management LP boosted its position in Energy Transfer by 1.5% during the second quarter. Forum Financial Management LP now owns 119,645 shares of the pipeline company’s stock valued at $2,169,000 after purchasing an additional 1,744 shares during the last quarter. Caliber Wealth Management LLC KS boosted its position in Energy Transfer by 21.7% during the second quarter. Caliber Wealth Management LLC KS now owns 12,799 shares of the pipeline company’s stock valued at $232,000 after purchasing an additional 2,279 shares during the last quarter. Brookstone Capital Management boosted its position in Energy Transfer by 2.0% during the second quarter. Brookstone Capital Management now owns 249,040 shares of the pipeline company’s stock valued at $4,515,000 after purchasing an additional 4,836 shares during the last quarter. Private Capital Advisors Inc. boosted its position in Energy Transfer by 1.0% during the second quarter. Private Capital Advisors Inc. now owns 850,047 shares of the pipeline company’s stock valued at $15,411,000 after purchasing an additional 8,445 shares during the last quarter. Finally, Schulhoff & Co. Inc. boosted its position in Energy Transfer by 11.4% during the second quarter. Schulhoff & Co. Inc. now owns 27,840 shares of the pipeline company’s stock valued at $505,000 after purchasing an additional 2,840 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wells Fargo & Company reissued an “overweight” rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Cowen assumed coverage on Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating on the stock. TD Cowen assumed coverage on Energy Transfer in a research report on Monday, July 7th. They issued a “buy” rating and a $22.00 price objective for the company. Morgan Stanley cut their price objective on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Finally, Barclays reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of Energy Transfer in a research report on Wednesday, October 15th. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.67.

Energy Transfer Price Performance

Shares of NYSE ET opened at $16.89 on Thursday. The firm has a market cap of $57.96 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The business’s 50 day moving average is $17.20 and its 200-day moving average is $17.38.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. Equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren bought 1,350,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were bought at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the purchase, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.28% of the company’s stock.

About Energy Transfer

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.