Strategic Investment Solutions Inc. IL Takes Position in Energy Transfer LP (NYSE:ET)

Strategic Investment Solutions Inc. IL bought a new stake in Energy Transfer LP (NYSE:ET) 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.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. On average, equities research analysts anticipate that Energy Transfer LP will post 1.35 EPS for the current year.

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.

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.