Private Wealth Partners LLC Makes New $193,000 Investment in Energy Transfer LP (NYSE:ET)

Private Wealth Partners LLC bought a new position in shares of Energy Transfer LP (NYSE:ET) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,000 shares of the pipeline company’s stock, valued at approximately $193,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Princeton Global Asset Management LLC grew its position in shares of 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 worth $26,000 after purchasing an additional 650 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Energy Transfer during the 1st quarter worth approximately $29,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer during the 2nd quarter worth approximately $33,000. Sugarloaf Wealth Management LLC boosted its position in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares in the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in shares of Energy Transfer during the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Activity

In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gregory G. Mcilwain bought 20,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the purchase, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 3,040,000 shares of company stock valued at $47,667,200. Insiders own 3.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on ET shares. Royal Bank of Canada increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. UBS Group increased their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $20.00.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $16.43 on Friday. The company has a market cap of $56.23 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 0.50 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The firm has a 50 day simple moving average of $16.19 and a 200 day simple moving average of $16.00. Energy Transfer LP has a one year low of $13.01 and a one year high of $16.64.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. Energy Transfer’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.25 EPS. Research analysts predict that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 7.85%. The ex-dividend date is Friday, November 8th. Energy Transfer’s payout ratio is currently 107.56%.

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.