Stokes Capital Advisors LLC Trims Position in Energy Transfer LP (NYSE:ET)

Stokes Capital Advisors LLC reduced its stake in Energy Transfer LP (NYSE:ET) by 26.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 90,062 shares of the pipeline company’s stock after selling 33,225 shares during the period. Stokes Capital Advisors LLC’s holdings in Energy Transfer were worth $488,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. CWA Asset Management Group LLC grew its holdings in shares of Energy Transfer by 6.8% during the first quarter. CWA Asset Management Group LLC now owns 21,880 shares of the pipeline company’s stock valued at $101,000 after buying an additional 1,400 shares in the last quarter. Resonant Capital Advisors LLC lifted its stake in shares of Energy Transfer by 11.2% during the 2nd quarter. Resonant Capital Advisors LLC now owns 15,304 shares of the pipeline company’s stock valued at $109,000 after buying an additional 1,542 shares in the last quarter. Holderness Investments Co. lifted its stake in shares of Energy Transfer by 2.2% during the 2nd quarter. Holderness Investments Co. now owns 72,862 shares of the pipeline company’s stock valued at $519,000 after buying an additional 1,580 shares in the last quarter. Flagship Harbor Advisors LLC lifted its stake in shares of Energy Transfer by 30.3% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 7,287 shares of the pipeline company’s stock valued at $51,000 after buying an additional 1,694 shares in the last quarter. Finally, Howard Financial Services LTD. lifted its stake in shares of Energy Transfer by 1.0% during the 2nd quarter. Howard Financial Services LTD. now owns 198,017 shares of the pipeline company’s stock valued at $1,410,000 after buying an additional 1,896 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

ET has been the topic of several recent analyst reports. Morgan Stanley lowered their target price on shares of Energy Transfer from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 15th. Zacks Investment Research upgraded shares of Energy Transfer from a “sell” rating to a “hold” rating in a research note on Friday, August 28th. Wells Fargo & Company cut shares of Energy Transfer from an “overweight” rating to an “equal weight” rating and set a $8.00 target price on the stock. in a research note on Wednesday, July 22nd. Citigroup lowered their target price on shares of Energy Transfer from $18.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. Finally, Piper Sandler lowered their price objective on shares of Energy Transfer from $8.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, October 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $9.94.

Shares of Energy Transfer stock opened at $6.02 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.03 and a quick ratio of 0.71. Energy Transfer LP has a 1 year low of $3.75 and a 1 year high of $13.86. The firm’s 50-day moving average is $5.93 and its two-hundred day moving average is $6.75. The stock has a market cap of $16.23 billion, a price-to-earnings ratio of 11.80 and a beta of 2.56.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 5th. The pipeline company reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.12). The business had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $11.60 billion. Energy Transfer had a return on equity of 8.64% and a net margin of 2.90%. On average, equities analysts expect that Energy Transfer LP will post 0.76 earnings per share for the current year.

About Energy Transfer

Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,500 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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