Capital Investment Advisors LLC Buys 7,545 Shares of Energy Transfer LP (NYSE:ET)

Capital Investment Advisors LLC increased its stake in Energy Transfer LP (NYSE:ET) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 270,770 shares of the pipeline company’s stock after acquiring an additional 7,545 shares during the period. Capital Investment Advisors LLC’s holdings in Energy Transfer were worth $4,346,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. lifted its stake in 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 period. Natixis lifted its position 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 worth $283,463,000 after purchasing an additional 2,999,300 shares during the period. Westwood Holdings Group Inc. boosted its stake in shares of Energy Transfer by 1.1% during the 2nd quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock valued at $261,263,000 after purchasing an additional 171,720 shares in the last quarter. Chickasaw Capital Management LLC boosted its stake in shares of Energy Transfer by 3.1% during the 3rd quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock valued at $246,376,000 after purchasing an additional 466,565 shares in the last quarter. Finally, Merewether Investment Management LP raised its stake in Energy Transfer by 22.3% in the second quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock worth $106,919,000 after buying an additional 1,200,501 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Energy Transfer Stock Down 0.5 %

ET stock opened at $16.41 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The business has a 50 day moving average of $16.11 and a 200 day moving average of $15.95. Energy Transfer LP has a twelve month low of $12.90 and a twelve month high of $16.64. The firm has a market cap of $55.30 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66.

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

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a dividend of $0.32 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.80%. Energy Transfer’s dividend payout ratio is presently 117.43%.

Insider Activity at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain acquired 20,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now owns 591,211 shares of the company’s stock, 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 SEC, which can be accessed through this link. In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now 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 filing with the SEC, which is accessible through this link. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the acquisition, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 3,040,000 shares of company stock valued at $47,667,200 over the last 90 days. Corporate 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.