Energy Transfer LP (NYSE:ET) Stock Holdings Lowered by SCP Investment LP

SCP Investment LP trimmed its holdings in shares of Energy Transfer LP (NYSE:ET) by 32.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,800 shares of the pipeline company’s stock after selling 10,000 shares during the period. SCP Investment LP’s holdings in Energy Transfer were worth $334,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Fortis Capital Management LLC raised its holdings in Energy Transfer by 2.0% during the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock worth $513,000 after buying an additional 634 shares during the period. Princeton Global Asset Management LLC raised its holdings in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the period. Veracity Capital LLC lifted its position in shares of Energy Transfer by 2.0% in the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock valued at $545,000 after acquiring an additional 659 shares in the last quarter. Haverford Trust Co boosted its stake in Energy Transfer by 0.7% in the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock worth $1,640,000 after purchasing an additional 675 shares during the period. Finally, Morton Capital Management LLC CA grew its position in Energy Transfer by 1.6% during the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock worth $720,000 after purchasing an additional 699 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, EVP Gregory G. Mcilwain bought 20,000 shares of Energy Transfer stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost 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 in the company, valued at $9,270,188.48. This trade represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.28% of the stock is owned by insiders.

Energy Transfer Price Performance

ET opened at $17.96 on Wednesday. The stock has a fifty day moving average price of $16.50 and a 200 day moving average price of $16.13. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 1 year low of $13.11 and a 1 year high of $18.08. The stock has a market cap of $61.49 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 0.53 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. 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 previous year, the company earned $0.31 EPS. The firm’s revenue was up .2% on a year-over-year basis. Analysts forecast that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 7.18%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is 94.85%.

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.