Lifestyle Asset Management Inc. Has $747,000 Position in Energy Transfer LP (NYSE:ET)

Lifestyle Asset Management Inc. boosted its position in Energy Transfer LP (NYSE:ET) by 4.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,535 shares of the pipeline company’s stock after buying an additional 1,858 shares during the quarter. Lifestyle Asset Management Inc.’s holdings in Energy Transfer were worth $747,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. lifted its position in shares of 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. International Assets Investment Management LLC lifted its position in Energy Transfer by 1,491.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after buying an additional 3,913,266 shares in the last quarter. Natixis boosted its stake 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 last quarter. Payden & Rygel Investment Group bought a new position in shares of Energy Transfer in the 1st quarter valued at about $20,164,000. Finally, Pathway Financial Advisers LLC increased its position in shares of Energy Transfer by 1,837.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock valued at $21,489,000 after acquiring an additional 1,269,778 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ET. Royal Bank of Canada raised 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 increased their price target on shares of 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 assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $20.00.

Energy Transfer Trading Down 0.2 %

Shares of NYSE:ET opened at $17.39 on Friday. The business has a 50 day moving average of $16.25 and a 200-day moving average of $16.03. The stock has a market cap of $59.51 billion, a PE ratio of 14.61, a P/E/G ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a 12-month low of $13.01 and a 12-month high of $17.71. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 earnings per share. As a group, equities research analysts forecast that Energy Transfer LP will post 1.35 earnings per share for the current 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 paid a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 7.42%. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 107.56%.

Insider Buying and Selling

In other news, EVP Gregory G. Mcilwain bought 20,000 shares of the company’s stock in a transaction dated 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 shares were acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 3,040,000 shares of company stock valued at $47,667,200 over the last 90 days. 3.28% of the stock is owned by corporate insiders.

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.