Energy Transfer LP (NYSE:ET) Shares Bought by Second Line Capital LLC

Second Line Capital LLC increased its stake in Energy Transfer LP (NYSE:ET) by 7.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 23,509 shares of the pipeline company’s stock after buying an additional 1,642 shares during the quarter. Second Line Capital LLC’s holdings in Energy Transfer were worth $377,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after purchasing an additional 10,195,768 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its position in shares of Energy Transfer by 12.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after buying an additional 4,141,715 shares during the period. International Assets Investment Management LLC grew its holdings in shares of 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 buying an additional 3,913,266 shares in the last quarter. BNP Paribas Financial Markets raised its position in Energy Transfer by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after buying an additional 3,106,631 shares during the period. Finally, Citigroup Inc. boosted its position in Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after acquiring an additional 3,013,973 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.5 %

ET stock opened at $18.74 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company has a 50-day moving average of $17.35 and a two-hundred day moving average of $16.44. The stock has a market capitalization of $64.16 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. Energy Transfer LP has a 52-week low of $13.11 and a 52-week high of $20.02.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter last year, the firm posted $0.31 EPS. The company’s revenue was up .2% on a year-over-year basis. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ET. Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. UBS Group lifted 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, Royal Bank of Canada raised their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Energy Transfer currently has an average rating of “Buy” and an average price target of $20.38.

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.