Strategy Asset Managers LLC Invests $299,000 in Energy Transfer LP (NYSE:ET)

Strategy Asset Managers LLC purchased a new stake in shares of Energy Transfer LP (NYSE:ET) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 18,627 shares of the pipeline company’s stock, valued at approximately $299,000.

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

Analysts Set New Price Targets

ET has been the topic of several recent analyst reports. Bank of America initiated 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 upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, UBS Group lifted 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 analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $18.29 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer LP has a one year low of $13.11 and a one year high of $18.37. The business’s 50-day moving average price is $16.55 and its two-hundred day moving average price is $16.14. The company has a market capitalization of $62.62 billion, a P/E ratio of 13.45, a price-to-earnings-growth ratio of 0.53 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting 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 analysts’ expectations of $21.59 billion. During the same quarter in the previous year, the business posted $0.31 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Analysts anticipate that Energy Transfer LP will post 1.34 earnings per share for the current fiscal 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 given a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.05%. Energy Transfer’s dividend payout ratio is currently 94.85%.

Insider Transactions at Energy Transfer

In other news, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. This represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.28% of the stock is currently owned by corporate 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.