Cambiar Investors LLC Has $5.10 Million Position in Energy Transfer LP (NYSE:ET)

Cambiar Investors LLC cut its holdings in Energy Transfer LP (NYSE:ET) by 1.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 317,507 shares of the pipeline company’s stock after selling 3,704 shares during the period. Cambiar Investors LLC’s holdings in Energy Transfer were worth $5,096,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ET. Tortoise Capital Advisors L.L.C. increased its holdings in Energy Transfer by 12.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after purchasing an additional 4,141,715 shares in the last quarter. Natixis grew its position in shares of Energy Transfer by 20.0% during the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after buying an additional 2,999,300 shares during the period. Westwood Holdings Group Inc. increased its stake in shares of Energy Transfer by 1.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock valued at $261,263,000 after acquiring an additional 171,720 shares in the last quarter. Chickasaw Capital Management LLC lifted its position in shares of Energy Transfer by 3.1% during the 3rd quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock valued at $246,376,000 after acquiring an additional 466,565 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in shares of Energy Transfer by 7.9% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,293,510 shares of the pipeline company’s stock valued at $117,061,000 after acquiring an additional 536,047 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ET shares. Royal Bank of Canada raised their price target 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. UBS Group raised their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Bank of America initiated coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $20.00.

Insider Activity at Energy Transfer

In other news, CEO Thomas E. Long acquired 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas E. Long purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by insiders.

Energy Transfer Trading Down 0.3 %

NYSE:ET opened at $16.43 on Friday. 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 LP has a one year low of $13.01 and a one year high of $16.64. The company has a market cap of $56.21 billion, a PE ratio of 13.80, a PEG ratio of 0.50 and a beta of 1.66. The firm has a 50-day moving average of $16.19 and a 200-day moving average of $15.99.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities research analysts expect that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be given a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 7.85%. The ex-dividend date is Friday, November 8th. Energy Transfer’s payout ratio is currently 107.56%.

Energy Transfer 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.