Highland Capital Management LLC Has $711,000 Stock Position in Energy Transfer LP (NYSE:ET)

Highland Capital Management LLC lifted its stake in shares of Energy Transfer LP (NYSE:ET) by 14.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 44,290 shares of the pipeline company’s stock after purchasing an additional 5,500 shares during the quarter. Highland Capital Management LLC’s holdings in Energy Transfer were worth $711,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ET. Berkley W R Corp increased its holdings in Energy Transfer by 11.6% in the 1st quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock worth $83,912,000 after purchasing an additional 555,445 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Energy Transfer by 491.3% in the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock valued at $20,297,000 after buying an additional 1,072,144 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Energy Transfer by 2.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 549,971 shares of the pipeline company’s stock valued at $8,651,000 after buying an additional 15,097 shares during the last quarter. Chickasaw Capital Management LLC boosted its position in 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 worth $246,376,000 after buying an additional 466,565 shares during the period. Finally, Nicolet Advisory Services LLC grew its holdings in Energy Transfer by 48.8% during the 1st quarter. Nicolet Advisory Services LLC now owns 17,464 shares of the pipeline company’s stock worth $275,000 after acquiring an additional 5,730 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Insider Activity at Energy Transfer

In other news, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction on Monday, August 12th. 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 chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The trade was 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 Energy Transfer news, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction 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. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas E. Long purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the transaction, 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 disclosure for this purchase can be found here. Insiders bought 3,040,000 shares of company stock valued at $47,667,200 in the last three months. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET stock opened at $16.45 on Friday. The firm has a 50 day moving average of $16.16 and a 200-day moving average of $15.97. The company has a market cap of $56.30 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 0.49 and a beta of 1.66. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a 52 week low of $12.90 and a 52 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 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same quarter in the previous year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, equities analysts forecast that Energy Transfer LP will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

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

About Energy Transfer

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.