Strategic Investment Solutions Inc. IL bought a new stake in Energy Transfer LP (NYSE:ET – Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,224 shares of the pipeline company’s stock, valued at approximately $84,000.
Other hedge funds have also modified their holdings of the company. LRI Investments LLC purchased a new stake in shares of Energy Transfer in the first quarter valued at about $29,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer in the second quarter valued at about $33,000. Sugarloaf Wealth Management LLC grew its holdings in shares of Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares during the period. Hudson Edge Investment Partners Inc. purchased a new stake in shares of Energy Transfer in the second quarter valued at about $42,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of Energy Transfer in the second quarter valued at about $42,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.
Energy Transfer Stock Up 0.2 %
NYSE:ET traded up $0.04 during mid-day trading on Friday, hitting $16.44. The stock had a trading volume of 1,519,708 shares, compared to its average volume of 12,998,915. The stock has a 50-day simple moving average of $16.15 and a two-hundred day simple moving average of $15.96. The company has a market capitalization of $55.40 billion, a PE ratio of 15.05, a PEG ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a twelve month low of $12.90 and a twelve month high of $16.64. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.
Insider Activity at Energy Transfer
In other news, CEO Thomas E. Long bought 20,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Thomas E. Long acquired 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the acquisition, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 3,040,000 shares of company stock valued at $47,667,200 over the last 90 days. 3.28% of the stock is owned by corporate insiders.
Analyst Ratings Changes
ET has been the subject of a number of analyst reports. Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. Royal Bank of Canada increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, UBS Group increased their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $20.00.
Read Our Latest Stock Analysis on Energy Transfer
About Energy Transfer
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.
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