Strategy Asset Managers LLC Buys New Shares in Energy Transfer LP (NYSE:ET)

Strategy Asset Managers LLC purchased a new position in shares of Energy Transfer LP (NYSE:ET) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 18,627 shares of the pipeline company’s stock, valued at approximately $299,000.

A number of other hedge funds also recently made changes to their positions in ET. Princeton Global Asset Management LLC raised its position in shares of Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the period. Assetmark Inc. raised its holdings in shares of 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 acquired a new position in shares of Energy Transfer in the 1st quarter valued at about $29,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer during the 2nd quarter worth about $33,000. Finally, Sugarloaf Wealth Management LLC increased its position in 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 purchasing an additional 750 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

ET has been the topic of a number of recent research reports. Royal Bank of Canada lifted 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. UBS Group upped 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 assumed coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $20.00.

Energy Transfer Stock Performance

Energy Transfer stock opened at $18.29 on Thursday. Energy Transfer LP has a 12-month low of $13.11 and a 12-month high of $18.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company has a market capitalization of $62.62 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 0.53 and a beta of 1.66. The firm’s fifty day moving average price is $16.55 and its 200 day moving average price is $16.14.

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, hitting analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.31 earnings per share. On average, research 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. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 7.05%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Insider Transactions at Energy Transfer

In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer stock in a transaction on Friday, August 23rd. The shares were purchased 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 directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The trade was a 3.50 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.28% of the company’s stock.

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.