Diversify Advisory Services LLC Purchases 51,785 Shares of Energy Transfer LP (NYSE:ET)

Diversify Advisory Services LLC lifted its position in shares of Energy Transfer LP (NYSE:ET) by 6.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 906,789 shares of the pipeline company’s stock after purchasing an additional 51,785 shares during the quarter. Energy Transfer accounts for 0.8% of Diversify Advisory Services LLC’s investment portfolio, making the stock its 21st largest holding. Diversify Advisory Services LLC’s holdings in Energy Transfer were worth $14,853,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Tortoise Capital Advisors L.L.C. lifted its holdings 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 valued at $594,769,000 after purchasing an additional 4,141,715 shares in the last quarter. Natixis boosted its holdings in Energy Transfer by 20.0% during the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after acquiring an additional 2,999,300 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of 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 acquiring an additional 171,720 shares in the last quarter. Chickasaw Capital Management LLC raised its holdings in shares of 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 purchasing an additional 466,565 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings 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 last quarter. 38.22% of the stock is currently owned by institutional investors.

Insider Transactions at Energy Transfer

In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer stock in a transaction that occurred on Friday, August 23rd. The stock was 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 owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 3,040,000 shares of company stock worth $47,667,200. Company insiders own 3.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Royal Bank of Canada increased their price objective 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. UBS Group increased their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat, Energy Transfer has a consensus rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Trading Down 0.3 %

Shares of Energy Transfer stock opened at $16.35 on Tuesday. The company has a 50 day simple moving average of $16.16 and a two-hundred day simple moving average of $15.97. The firm has a market cap of $55.10 billion, a PE ratio of 15.05, a PEG ratio of 0.49 and a beta of 1.66. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.64. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data 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). The firm 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 quarter in the previous year, the company posted $0.25 earnings per share. Analysts expect that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

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.