Segall Bryant & Hamill LLC Invests $2.66 Million in Energy Transfer LP (NYSE:ET)

Segall Bryant & Hamill LLC purchased a new position in Energy Transfer LP (NYSE:ET) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 165,499 shares of the pipeline company’s stock, valued at approximately $2,656,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ET. Princeton Global Asset Management LLC raised its position in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. raised its holdings in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. LRI Investments LLC purchased a new position in Energy Transfer during the first quarter valued at $29,000. HWG Holdings LP bought a new stake in Energy Transfer during the second quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC raised its stake 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 worth $40,000 after buying an additional 750 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Up 0.5 %

NYSE ET opened at $19.06 on Friday. The company has a market capitalization of $65.26 billion, a P/E ratio of 14.01, a P/E/G ratio of 0.55 and a beta of 1.66. The stock has a 50 day moving average price of $16.66 and a 200-day moving average price of $16.18. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. Energy Transfer LP has a one year low of $13.11 and a one year high of $19.20.

Energy Transfer (NYSE:ET) last announced its 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. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. As a group, equities analysts predict that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.77%. Energy Transfer’s dividend payout ratio is presently 94.85%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on 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 report on Wednesday, October 16th. Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Finally, UBS Group increased their price objective 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 research 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 a consensus price target 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.