Energy Transfer LP (NYSE:ET) Shares Acquired by Canton Hathaway LLC

Canton Hathaway LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 20.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,000 shares of the pipeline company’s stock after acquiring an additional 4,000 shares during the quarter. Canton Hathaway LLC’s holdings in Energy Transfer were worth $385,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ET. Tortoise Capital Advisors L.L.C. raised its position in shares of Energy Transfer by 12.7% during the 2nd 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 in the last quarter. Westwood Holdings Group Inc. raised its holdings in Energy Transfer by 1.1% during the second quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock worth $261,263,000 after purchasing an additional 171,720 shares in the last quarter. Chickasaw Capital Management LLC lifted its position in Energy Transfer by 3.1% in the third quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock worth $246,376,000 after purchasing an additional 466,565 shares during the period. Citigroup Inc. boosted its stake in Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after purchasing an additional 3,013,973 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of Energy Transfer by 7.9% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,293,510 shares of the pipeline company’s stock valued at $117,061,000 after purchasing an additional 536,047 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.1 %

Shares of Energy Transfer stock opened at $19.08 on Monday. Energy Transfer LP has a 1 year low of $13.11 and a 1 year high of $19.20. The company has a market cap of $65.33 billion, a P/E ratio of 14.02, a P/E/G ratio of 0.61 and a beta of 1.66. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The stock has a 50-day moving average price of $16.66 and a 200 day moving average price of $16.18.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. As a group, analysts expect that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.76%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. UBS Group upped their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. Finally, Royal Bank of Canada raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price 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.