GSA Capital Partners LLP Raises Stock Holdings in Energy Transfer LP (NYSE:ET)

GSA Capital Partners LLP grew its stake in shares of Energy Transfer LP (NYSE:ET) by 59.5% during the third quarter, Holdings Channel reports. The institutional investor owned 89,357 shares of the pipeline company’s stock after buying an additional 33,342 shares during the period. GSA Capital Partners LLP’s holdings in Energy Transfer were worth $1,434,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ET. Princeton Global Asset Management LLC lifted its holdings in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. raised its position in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the period. LRI Investments LLC purchased a new position in shares of Energy Transfer during the 1st quarter valued at $29,000. HWG Holdings LP bought a new position in Energy Transfer in the 2nd quarter worth $33,000. Finally, Sugarloaf Wealth Management LLC increased its stake in Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Insider Transactions at Energy Transfer

In other news, EVP Gregory G. Mcilwain bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.28% of the company’s stock.

Energy Transfer Trading Up 0.2 %

Shares of NYSE ET opened at $17.09 on Thursday. Energy Transfer LP has a 1-year low of $13.11 and a 1-year high of $17.71. The business has a fifty day moving average price of $16.35 and a 200 day moving average price of $16.07. The stock has a market capitalization of $58.51 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 0.52 and a beta of 1.66. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $0.31 EPS. Equities research analysts expect that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.3225 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 7.55%. Energy Transfer’s payout ratio is presently 94.85%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. UBS Group boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada upped their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Bank of America assumed coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $20.00.

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.