Tectonic Advisors LLC Grows Stock Position in Energy Transfer LP (NYSE:ET)

Tectonic Advisors LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 15.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 488,731 shares of the pipeline company’s stock after acquiring an additional 65,577 shares during the period. Tectonic Advisors LLC’s holdings in Energy Transfer were worth $7,844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of ET. LRI Investments LLC acquired a new position in shares of Energy Transfer during the first quarter worth $29,000. HWG Holdings LP acquired a new position in shares of Energy Transfer during the second quarter worth $33,000. Sugarloaf Wealth Management LLC grew its stake in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares in the last quarter. EdgeRock Capital LLC acquired a new position in shares of Energy Transfer during the second quarter worth $42,000. Finally, Hudson Edge Investment Partners Inc. acquired a new position in shares of Energy Transfer during the second quarter worth $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ET. Royal Bank of Canada boosted their price target 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. Bank of America assumed coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. Finally, UBS Group upped their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Energy Transfer presently has an average rating of “Buy” and an average price target of $20.00.

Insiders Place Their Bets

In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of Energy Transfer stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Kelcy L. Warren bought 3,000,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gregory G. Mcilwain bought 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,040,000 shares of company stock valued at $47,667,200 over the last quarter. Company insiders own 3.28% of the company’s stock.

Energy Transfer Stock Up 0.2 %

ET stock opened at $16.41 on Friday. The company’s 50 day simple moving average is $16.15 and its 200-day simple moving average is $15.96. The firm has a market capitalization of $55.29 billion, a PE ratio of 15.05, a P/E/G ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a 12 month low of $12.90 and a 12 month high of $16.64. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92.

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

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.