Fairman Group LLC Raises Position in Energy Transfer LP (NYSE:ET)

Fairman Group LLC increased its position in Energy Transfer LP (NYSE:ET) by 34.6% in the third quarter, HoldingsChannel.com reports. The fund owned 21,945 shares of the pipeline company’s stock after buying an additional 5,645 shares during the period. Fairman Group LLC’s holdings in Energy Transfer were worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ET. LRI Investments LLC purchased a new stake in Energy Transfer in the first quarter valued at approximately $29,000. HWG Holdings LP purchased a new stake in Energy Transfer in the second quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC boosted its position 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 valued at $40,000 after buying an additional 750 shares during the last quarter. EdgeRock Capital LLC purchased a new stake in Energy Transfer in the second quarter valued at approximately $42,000. Finally, Hudson Edge Investment Partners Inc. purchased a new stake in Energy Transfer in the second quarter valued at approximately $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of ET stock remained flat at $16.38 during trading hours on Thursday. The stock had a trading volume of 541,291 shares, compared to its average volume of 13,012,542. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $55.20 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 0.50 and a beta of 1.66. The business’s fifty day moving average price is $16.15 and its 200 day moving average price is $15.96. Energy Transfer LP has a twelve month low of $12.90 and a twelve month high of $16.64.

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

Analysts Set New Price Targets

ET has been the subject of a number of analyst reports. UBS Group boosted their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Royal Bank of Canada boosted their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Bank of America initiated 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 investment analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer presently has a consensus rating of “Buy” and an average target price of $20.00.

Insider Activity at Energy Transfer

In other 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 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 in the company, valued at $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of the stock in a transaction dated 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 acquisition, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. This trade represents 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 bought 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by insiders.

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.