Concord Wealth Partners Raises Stock Position in Energy Transfer LP (NYSE:ET)

Concord Wealth Partners grew its position in Energy Transfer LP (NYSE:ET) by 9.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,312 shares of the pipeline company’s stock after buying an additional 1,171 shares during the period. Concord Wealth Partners’ holdings in Energy Transfer were worth $214,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ET. Berkley W R Corp increased its stake in Energy Transfer by 11.6% during the first quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock worth $83,912,000 after acquiring an additional 555,445 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Energy Transfer by 491.3% during the 1st quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock worth $20,297,000 after purchasing an additional 1,072,144 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Energy Transfer by 1,491.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after buying an additional 3,913,266 shares during the period. Chickasaw Capital Management LLC lifted its position in Energy Transfer by 3.1% in the third quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock valued at $246,376,000 after buying an additional 466,565 shares during the last quarter. Finally, Nicolet Advisory Services LLC boosted its stake in Energy Transfer by 48.8% during the first quarter. Nicolet Advisory Services LLC now owns 17,464 shares of the pipeline company’s stock worth $275,000 after buying an additional 5,730 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Gregory G. Mcilwain acquired 20,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were bought at an average price 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 in the company, valued at $9,270,188.48. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kelcy L. Warren bought 3,000,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 3,040,000 shares of company stock valued at $47,667,200 over the last quarter. 3.28% of the stock is owned by insiders.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $16.41 on Tuesday. The business has a 50-day simple moving average of $16.16 and a 200-day simple moving average of $15.97. The company has a market cap of $55.29 billion, a PE ratio of 15.05, a P/E/G ratio of 0.49 and a beta of 1.66. Energy Transfer LP has a one year low of $12.90 and a one year high of $16.64. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14.

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