Fortem Financial Group LLC Has $3.22 Million Position in Energy Transfer LP (NYSE:ET)

Fortem Financial Group LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 6.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 200,306 shares of the pipeline company’s stock after buying an additional 11,455 shares during the period. Energy Transfer makes up about 1.3% of Fortem Financial Group LLC’s investment portfolio, making the stock its 18th biggest position. Fortem Financial Group LLC’s holdings in Energy Transfer were worth $3,215,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Empowered Funds LLC raised its position in shares of Energy Transfer by 15.0% in the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after acquiring an additional 45,172 shares during the period. Kingsview Wealth Management LLC raised its holdings in Energy Transfer by 30.9% in the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock worth $3,885,000 after purchasing an additional 57,184 shares during the period. FMR LLC raised its holdings in Energy Transfer by 44.0% in the third 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 period. Clear Street Derivatives LLC acquired a new stake in Energy Transfer during the 3rd quarter worth $2,565,000. Finally, GFS Advisors LLC raised its stake in Energy Transfer by 19,380.5% during the 3rd quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company’s stock worth $963,000 after buying an additional 59,692 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Down 0.5 %

Shares of ET stock opened at $18.74 on Wednesday. The firm’s fifty day moving average price is $17.35 and its two-hundred day moving average price is $16.44. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 1 year low of $13.11 and a 1 year high of $20.02. The firm has a market capitalization of $64.16 billion, a P/E ratio of 13.78, a PEG ratio of 0.63 and a beta of 1.70.

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. 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%. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, equities analysts predict that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

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

Analyst Upgrades and Downgrades

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