Energy Transfer LP (NYSE:ET) Stock Holdings Lifted by Empowered Funds LLC

Empowered Funds LLC increased its position in Energy Transfer LP (NYSE:ET) by 15.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 346,825 shares of the pipeline company’s stock after purchasing an additional 45,172 shares during the period. Empowered Funds LLC’s holdings in Energy Transfer were worth $5,567,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. increased its stake in shares of Energy Transfer by 12.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after acquiring an additional 4,141,715 shares during the last quarter. Natixis raised its stake in shares of Energy Transfer by 20.0% in the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after acquiring an additional 2,999,300 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in Energy Transfer by 1.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock worth $261,263,000 after purchasing an additional 171,720 shares during the last quarter. Chickasaw Capital Management LLC lifted its holdings in Energy Transfer by 3.1% in the 3rd quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock worth $246,376,000 after purchasing an additional 466,565 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in Energy Transfer by 7.9% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,293,510 shares of the pipeline company’s stock worth $117,061,000 after purchasing an additional 536,047 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Up 0.8 %

NYSE ET opened at $17.29 on Monday. Energy Transfer LP has a twelve month low of $13.11 and a twelve month high of $17.71. The stock has a market cap of $59.20 billion, a PE ratio of 12.71, a PEG ratio of 0.53 and a beta of 1.66. The firm has a 50-day simple moving average of $16.42 and a 200 day simple moving average of $16.10. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.92 and a current ratio of 1.08.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $0.31 EPS. On average, research analysts forecast that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The firm 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 is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 7.46%. Energy Transfer’s dividend payout ratio is currently 94.85%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada upped their price target 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, Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Energy Transfer has an average rating of “Buy” and an average target price of $20.00.

Insider Buying and Selling at Energy Transfer

In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This trade represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.28% of the company’s stock.

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.