Great Valley Advisor Group Inc. Boosts Position in Energy Transfer LP (NYSE:ET)

Great Valley Advisor Group Inc. boosted its position in shares of Energy Transfer LP (NYSE:ET) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 161,520 shares of the pipeline company’s stock after purchasing an additional 4,907 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Energy Transfer were worth $2,592,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ET. Princeton Global Asset Management LLC lifted its position in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. grew its stake in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Energy Transfer in the first quarter valued at about $29,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer in the second quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC grew its stake in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Trading Up 0.5 %

Shares of NYSE ET opened at $19.07 on Monday. The company has a market cap of $65.29 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66. Energy Transfer LP has a 12-month low of $13.11 and a 12-month high of $19.20. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The stock’s 50 day simple moving average is $16.66 and its 200 day simple moving average is $16.18.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. Equities research analysts expect that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 6.76%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Bank of America assumed coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Royal Bank of Canada increased their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, UBS Group increased their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target 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.