Spirit of America Management Corp NY Sells 17,000 Shares of Energy Transfer LP (NYSE:ET)

Spirit of America Management Corp NY decreased its position in shares of Energy Transfer LP (NYSE:ET) by 2.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 635,700 shares of the pipeline company’s stock after selling 17,000 shares during the period. Energy Transfer comprises 2.0% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 10th biggest position. Spirit of America Management Corp NY’s holdings in Energy Transfer were worth $10,203,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. LRI Investments LLC acquired a new stake in Energy Transfer in the 1st quarter valued at about $29,000. HWG Holdings LP purchased a new position in shares of Energy Transfer in the 2nd quarter valued at about $33,000. Sugarloaf Wealth Management LLC increased its holdings in shares of Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 750 shares during the last quarter. Hudson Edge Investment Partners Inc. purchased a new position in shares of Energy Transfer in the 2nd quarter valued at about $42,000. Finally, EdgeRock Capital LLC purchased a new position in shares of Energy Transfer in the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Energy Transfer

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kelcy L. Warren acquired 3,000,000 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, for a total transaction of $47,040,000.00. Following the acquisition, the director now directly 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 disclosure for this purchase can be found here. In the last quarter, insiders bought 3,040,000 shares of company stock worth $47,667,200. Company insiders own 3.28% of the company’s stock.

Energy Transfer Trading Up 0.2 %

NYSE:ET opened at $16.41 on Friday. The stock’s 50 day moving average price is $16.15 and its 200 day moving average price is $15.96. The company has a market capitalization of $55.29 billion, a PE ratio of 15.05, a P/E/G ratio of 0.50 and a beta of 1.66. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a 52-week low of $12.90 and a 52-week high of $16.64.

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

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.