Mutual Advisors LLC Sells 9,193 Shares of Energy Transfer LP (NYSE:ET)

Mutual Advisors LLC lessened its holdings in Energy Transfer LP (NYSE:ET) by 5.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 174,709 shares of the pipeline company’s stock after selling 9,193 shares during the period. Mutual Advisors LLC’s holdings in Energy Transfer were worth $2,865,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ET. Berkley W R Corp boosted its stake in shares of Energy Transfer by 11.6% during the 1st 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 lifted its position in Energy Transfer by 491.3% during the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock valued at $20,297,000 after purchasing an additional 1,072,144 shares in the last quarter. International Assets Investment Management LLC lifted its position in Energy Transfer by 1,491.0% during the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after purchasing an additional 3,913,266 shares in the last quarter. Chickasaw Capital Management LLC grew its holdings in Energy Transfer by 3.1% during 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 period. Finally, Nicolet Advisory Services LLC increased its position in Energy Transfer by 48.8% in 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 in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

ET opened at $16.46 on Thursday. The stock has a market capitalization of $55.47 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.49 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. 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 company has a fifty day moving average of $16.18 and a 200 day moving average of $15.98.

Energy Transfer (NYSE:ET) last issued its 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). 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 during the quarter, compared to the consensus estimate of $22.01 billion. During the same period last year, the firm posted $0.25 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.3225 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 7.84%. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

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 that occurred on Monday, August 12th. The shares were bought 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 directly owns 123,385,650 shares in the company, valued at $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Kelcy L. Warren acquired 3,000,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $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 acquired 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ET has been the subject of a number of recent research reports. Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. UBS Group increased their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada lifted their target price 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. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $20.00.

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.