Fortis Group Advisors LLC Raises Stock Position in Energy Transfer LP (NYSE:ET)

Fortis Group Advisors LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,383 shares of the pipeline company’s stock after purchasing an additional 1,452 shares during the quarter. Fortis Group Advisors LLC’s holdings in Energy Transfer were worth $488,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ET. &PARTNERS purchased a new position in shares of Energy Transfer during the 1st quarter valued at approximately $159,000. Global Assets Advisory LLC acquired a new stake in Energy Transfer during the first quarter valued at $204,000. Dynamic Advisor Solutions LLC increased its holdings in Energy Transfer by 7.0% in the first quarter. Dynamic Advisor Solutions LLC now owns 113,824 shares of the pipeline company’s stock valued at $1,790,000 after buying an additional 7,496 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of Energy Transfer by 30.5% in the first quarter. Sound Income Strategies LLC now owns 12,656 shares of the pipeline company’s stock worth $199,000 after acquiring an additional 2,956 shares during the period. Finally, Disciplined Investments LLC boosted its stake in shares of Energy Transfer by 3.3% during the 1st quarter. Disciplined Investments LLC now owns 67,168 shares of the pipeline company’s stock worth $1,057,000 after acquiring an additional 2,171 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Price Performance

Shares of ET traded down $0.07 during trading hours on Tuesday, hitting $16.33. 1,535,936 shares of the stock were exchanged, compared to its average volume of 13,066,498. The stock’s 50-day moving average price is $16.12 and its two-hundred day moving average price is $15.95. Energy Transfer LP has a 12-month low of $12.90 and a 12-month high of $16.64. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The company has a market cap of $55.03 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The business had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. Energy Transfer’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 EPS. Research analysts expect that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a dividend of $0.32 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a yield of 7.84%. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. The trade was 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 at this hyperlink. In other Energy Transfer news, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction that occurred 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 completion of the acquisition, 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kelcy L. Warren bought 3,000,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders have purchased 3,040,000 shares of company stock valued at $47,667,200. 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.