Tyler Stone Wealth Management Purchases 19,702 Shares of Energy Transfer LP (NYSE:ET)

Tyler Stone Wealth Management lifted its position in shares of Energy Transfer LP (NYSE:ET) by 283.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,657 shares of the pipeline company’s stock after purchasing an additional 19,702 shares during the period. Tyler Stone Wealth Management’s holdings in Energy Transfer were worth $428,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ET. Princeton Global Asset Management LLC increased its position in 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 valued at $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. boosted its stake in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Energy Transfer during the first quarter valued at about $29,000. HWG Holdings LP bought a new position in Energy Transfer in the second quarter worth about $33,000. Finally, Sugarloaf Wealth Management LLC lifted its holdings in 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 owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Royal Bank of Canada raised their price objective 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, UBS Group upped their target price 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. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Energy Transfer presently has a consensus rating of “Buy” and an average target price of $20.00.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $17.30 on Monday. Energy Transfer LP has a 1-year low of $13.01 and a 1-year high of $17.71. The business has a fifty day moving average price of $16.30 and a 200-day moving average price of $16.05. The company has a market capitalization of $59.20 billion, a PE ratio of 12.72, a PEG ratio of 0.53 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.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.64%. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter last year, the firm earned $0.31 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities analysts expect that Energy Transfer LP will post 1.35 EPS 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 $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 7.46%. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.12%.

Insider Activity

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 bought 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 of the company’s stock, valued at $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.28% of the company’s stock.

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.