Proffitt & Goodson Inc. Purchases 829 Shares of Energy Transfer LP (NYSE:ET)

Proffitt & Goodson Inc. increased its position in shares of Energy Transfer LP (NYSE:ET) by 16.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,025 shares of the pipeline company’s stock after acquiring an additional 829 shares during the period. Proffitt & Goodson Inc.’s holdings in Energy Transfer were worth $97,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC increased its position in shares of Energy Transfer by 65.0% in 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 during the last quarter. Veracity Capital LLC raised its position in shares of Energy Transfer by 2.0% during the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock valued at $545,000 after buying an additional 659 shares in the last quarter. Morton Capital Management LLC CA grew its position in Energy Transfer by 1.6% in the second quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock worth $720,000 after acquiring an additional 699 shares in the last quarter. Rockwood Wealth Management LLC grew its position in Energy Transfer by 0.5% in the second quarter. Rockwood Wealth Management LLC now owns 128,122 shares of the pipeline company’s stock worth $2,078,000 after acquiring an additional 700 shares in the last quarter. Finally, Fidelis Capital Partners LLC raised its position in Energy Transfer by 2.3% during the third quarter. Fidelis Capital Partners LLC now owns 31,858 shares of the pipeline company’s stock valued at $522,000 after purchasing an additional 709 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ET shares. Bank of America started coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. UBS Group upped their target price on 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 lifted their price target 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, According to MarketBeat.com, Energy Transfer has an average rating of “Buy” and an average price target of $20.00.

Insider Activity

In related news, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average price 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 of the company’s stock, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

NYSE:ET opened at $17.30 on Monday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. Energy Transfer LP has a fifty-two week low of $13.01 and a fifty-two week high of $17.71. The firm has a market cap of $59.20 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.53 and a beta of 1.66. The business has a 50 day moving average price of $16.30 and a 200-day moving average price of $16.05.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.64%. The business had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the prior year, the company posted $0.31 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts predict that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be given 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 dividend yield of 7.46%. Energy Transfer’s dividend payout ratio is currently 94.12%.

Energy Transfer Company 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.