Philosophy Capital Management LLC Buys 24,768 Shares of Energy Transfer LP (NYSE:ET)

Philosophy Capital Management LLC raised its position in shares of Energy Transfer LP (NYSE:ET) by 0.9% in the third quarter, HoldingsChannel.com reports. The firm owned 2,759,085 shares of the pipeline company’s stock after purchasing an additional 24,768 shares during the quarter. Energy Transfer accounts for approximately 3.5% of Philosophy Capital Management LLC’s portfolio, making the stock its 5th biggest holding. Philosophy Capital Management LLC’s holdings in Energy Transfer were worth $44,283,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. grew its position in shares of Energy Transfer by 12.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after buying an additional 4,141,715 shares during the period. FMR LLC boosted its stake in Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after acquiring an additional 10,195,768 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in Energy Transfer by 1.1% in the second quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock worth $261,263,000 after purchasing an additional 171,720 shares during the period. Chickasaw Capital Management LLC increased its stake in Energy Transfer by 3.1% in the third quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock valued at $246,376,000 after purchasing an additional 466,565 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Energy Transfer by 36.7% during the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after purchasing an additional 3,106,631 shares during the period. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

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

Energy Transfer Stock Performance

NYSE ET opened at $19.26 on Wednesday. The company has a fifty day moving average price of $17.11 and a 200-day moving average price of $16.35. The firm has a market cap of $65.94 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.63 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer LP has a 1 year low of $13.11 and a 1 year high of $20.02.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. As a group, equities research analysts predict that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

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.