SCP Investment LP Sells 10,000 Shares of Energy Transfer LP (NYSE:ET)

SCP Investment LP decreased its holdings in shares of Energy Transfer LP (NYSE:ET) by 32.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 20,800 shares of the pipeline company’s stock after selling 10,000 shares during the quarter. SCP Investment LP’s holdings in Energy Transfer were worth $334,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortis Capital Management LLC boosted its position in shares of Energy Transfer by 2.0% in the third quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock valued at $513,000 after acquiring an additional 634 shares during the period. Princeton Global Asset Management LLC raised its stake in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the last quarter. Veracity Capital LLC boosted its holdings in Energy Transfer by 2.0% in the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock valued at $545,000 after purchasing an additional 659 shares during the period. Haverford Trust Co boosted its holdings in Energy Transfer by 0.7% in the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock valued at $1,640,000 after purchasing an additional 675 shares during the period. Finally, Morton Capital Management LLC CA grew its position in Energy Transfer by 1.6% in the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock worth $720,000 after purchasing an additional 699 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Up 2.2 %

Shares of ET opened at $17.96 on Wednesday. Energy Transfer LP has a 12 month low of $13.11 and a 12 month high of $18.08. The stock has a market cap of $61.49 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 0.53 and a beta of 1.66. The company has a 50-day moving average price of $16.50 and a two-hundred day moving average price of $16.13. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

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

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 7.18%. Energy Transfer’s dividend payout ratio is presently 94.85%.

Insider Transactions at Energy Transfer

In other news, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The trade was a 3.50 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.28% of the stock is owned by insiders.

Analysts Set New Price Targets

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

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.