Integrated Advisors Network LLC Buys 60,805 Shares of Energy Transfer LP (NYSE:ET)

Integrated Advisors Network LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 162.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 98,146 shares of the pipeline company’s stock after buying an additional 60,805 shares during the period. Integrated Advisors Network LLC’s holdings in Energy Transfer were worth $1,575,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. LRI Investments LLC bought a new position in Energy Transfer during the 1st quarter worth $29,000. HWG Holdings LP bought a new position in Energy Transfer during the second quarter worth about $33,000. Sugarloaf Wealth Management LLC increased 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 worth $40,000 after acquiring an additional 750 shares during the period. EdgeRock Capital LLC acquired a new stake in Energy Transfer in the 2nd quarter worth about $42,000. Finally, Hudson Edge Investment Partners Inc. bought a new stake in Energy Transfer in the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

ET has been the subject of a number of analyst reports. UBS Group lifted their price target 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. Bank of America started coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Royal Bank of Canada upped their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Stock Down 0.2 %

NYSE ET opened at $16.38 on Wednesday. Energy Transfer LP has a fifty-two week low of $12.90 and a fifty-two week high of $16.64. The business has a fifty day moving average price of $16.17 and a two-hundred day moving average price of $15.98. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The stock has a market capitalization of $55.18 billion, a PE ratio of 15.02, a PEG ratio of 0.49 and a beta of 1.66.

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

Energy Transfer Cuts Dividend

The business also recently declared a dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be issued a dividend of $0.3225 per share. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

Insider Activity at Energy Transfer

In related news, CEO Thomas E. Long bought 20,000 shares of the firm’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 $313,600.00. Following the completion of the purchase, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at $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. Insiders own 3.28% of the company’s stock.

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.