Lifestyle Asset Management Inc. Acquires 1,858 Shares of Energy Transfer LP (NYSE:ET)

Lifestyle Asset Management Inc. boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 4.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,535 shares of the pipeline company’s stock after buying an additional 1,858 shares during the quarter. Lifestyle Asset Management Inc.’s holdings in Energy Transfer were worth $747,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Princeton Global Asset Management LLC raised its stake in shares of 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 purchasing an additional 650 shares during the last quarter. Veracity Capital LLC raised its position in 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 buying an additional 659 shares during the last quarter. Sfmg LLC lifted its stake in Energy Transfer by 2.2% during the 1st quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after acquiring an additional 674 shares in the last quarter. Morton Capital Management LLC CA lifted its stake 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 valued at $720,000 after acquiring an additional 699 shares in the last quarter. Finally, Rockwood Wealth Management LLC grew its stake in shares of Energy Transfer by 0.5% in the 2nd quarter. Rockwood Wealth Management LLC now owns 128,122 shares of the pipeline company’s stock worth $2,078,000 after acquiring an additional 700 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

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

Energy Transfer Trading Down 0.2 %

NYSE:ET opened at $17.39 on Friday. The firm’s 50 day moving average is $16.25 and its 200 day moving average is $16.03. Energy Transfer LP has a 12 month low of $13.01 and a 12 month high of $17.71. The stock has a market capitalization of $59.51 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. 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 quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts expect that Energy Transfer LP will post 1.35 earnings per share for the current 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 given a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 7.42%. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 107.56%.

Insider Activity at Energy Transfer

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

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.