Lake Street Private Wealth LLC Has $719,000 Holdings in Energy Transfer LP (NYSE:ET)

Lake Street Private Wealth LLC decreased its holdings in shares of Energy Transfer LP (NYSE:ET) by 85.4% in the 3rd quarter, Holdings Channel reports. The fund owned 44,776 shares of the pipeline company’s stock after selling 261,166 shares during the period. Lake Street Private Wealth LLC’s holdings in Energy Transfer were worth $719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ET. LRI Investments LLC acquired a new position in shares of Energy Transfer during the first quarter worth approximately $29,000. HWG Holdings LP bought a new position in Energy Transfer during the second quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC grew its position in Energy Transfer by 43.6% during the third 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. EdgeRock Capital LLC bought a new position in Energy Transfer during the second quarter valued at approximately $42,000. Finally, Hudson Edge Investment Partners Inc. bought a new position in Energy Transfer during the second quarter valued at approximately $42,000. 38.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ET has been the topic of a number of recent research reports. Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. UBS Group raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada lifted 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. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Stock Performance

Energy Transfer stock remained flat at $16.38 on Wednesday. The company’s stock had a trading volume of 1,841,812 shares, compared to its average volume of 13,049,495. The firm has a 50-day moving average of $16.14 and a two-hundred day moving average of $15.95. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The stock has a market capitalization of $55.20 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a fifty-two week low of $12.90 and a fifty-two week high of $16.64.

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. As a group, analysts predict that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 7.81%. The ex-dividend date was Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 117.43%.

Insider Transactions at Energy Transfer

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. 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 business’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the purchase, the director now owns 123,385,650 shares in the company, valued at approximately $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. Insiders purchased a total of 3,040,000 shares of company stock valued at $47,667,200 in the last quarter. 3.28% of the stock is owned by insiders.

Energy Transfer 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.