Private Wealth Partners LLC Invests $193,000 in Energy Transfer LP (NYSE:ET)

Private Wealth Partners LLC purchased a new position in shares of Energy Transfer LP (NYSE:ET) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,000 shares of the pipeline company’s stock, valued at approximately $193,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Rehmann Capital Advisory Group boosted its position in shares of Energy Transfer by 2.0% during the first quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock worth $505,000 after purchasing an additional 633 shares in the last quarter. Princeton Global Asset Management LLC boosted its position in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares in the last quarter. Veracity Capital LLC boosted its position in shares of Energy Transfer by 2.0% during the second quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock worth $545,000 after purchasing an additional 659 shares in the last quarter. Sfmg LLC lifted its position in Energy Transfer by 2.2% in the 1st quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after acquiring an additional 674 shares in the last quarter. Finally, Morton Capital Management LLC CA boosted its stake in Energy Transfer by 1.6% in the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock worth $720,000 after purchasing an additional 699 shares during the period. 38.22% of the stock is owned by institutional investors.

Insider Activity at Energy Transfer

In related 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 shares were acquired at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related 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 shares were acquired at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gregory G. Mcilwain purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $15.68 per share, for a total transaction 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. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 3,040,000 shares of company stock worth $47,667,200. Insiders own 3.28% of the company’s stock.

Wall Street Analyst Weigh In

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

Energy Transfer Stock Down 0.3 %

Shares of ET stock opened at $16.43 on Friday. 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 firm’s 50-day moving average is $16.19 and its 200-day moving average is $16.00. The stock has a market cap of $56.23 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a 52-week low of $13.01 and a 52-week high of $16.64.

Energy Transfer (NYSE:ET) last issued 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 firm had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share. Sell-side analysts predict that Energy Transfer LP will post 1.35 EPS 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 7.85%. Energy Transfer’s dividend payout ratio (DPR) 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.