Energy Transfer LP (NYSE:ET) Shares Acquired by Cohen Capital Management Inc.

Cohen Capital Management Inc. boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 5.0% in the third quarter, HoldingsChannel reports. The firm owned 329,304 shares of the pipeline company’s stock after purchasing an additional 15,711 shares during the quarter. Cohen Capital Management Inc.’s holdings in Energy Transfer were worth $5,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norden Group LLC acquired a new stake in shares of Energy Transfer in the first quarter valued at approximately $384,000. Sequoia Financial Advisors LLC increased its position in Energy Transfer by 8.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 35,531 shares of the pipeline company’s stock valued at $559,000 after acquiring an additional 2,804 shares during the period. Janney Montgomery Scott LLC raised its stake in Energy Transfer by 4.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 499,752 shares of the pipeline company’s stock valued at $7,861,000 after acquiring an additional 20,786 shares in the last quarter. Mutual Advisors LLC boosted its position in Energy Transfer by 9.6% during the 1st quarter. Mutual Advisors LLC now owns 161,076 shares of the pipeline company’s stock worth $2,534,000 after acquiring an additional 14,133 shares during the period. Finally, GSA Capital Partners LLP bought a new position in shares of Energy Transfer in the first quarter worth $1,159,000. 38.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada raised 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. Finally, UBS Group upped their price target 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. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Price Performance

Shares of NYSE ET opened at $16.48 on Monday. Energy Transfer LP has a twelve month low of $13.01 and a twelve month high of $16.64. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. The firm has a 50-day moving average of $16.19 and a two-hundred day moving average of $16.01. The company has a market capitalization of $56.40 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 7.83%. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 108.40%.

Insider Buying and Selling

In related news, Director Kelcy L. Warren bought 3,000,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now directly owns 123,385,650 shares in the company, valued at approximately $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 is available at this link. In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas E. Long acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 3,040,000 shares of company stock worth $47,667,200 in the last three months. 3.28% of the stock is currently owned by insiders.

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.