Kercheville Advisors LLC Has $1.96 Million Stake in Energy Transfer LP (NYSE:ET)

Kercheville Advisors LLC reduced its holdings in Energy Transfer LP (NYSE:ET) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 121,900 shares of the pipeline company’s stock after selling 10,000 shares during the period. Energy Transfer accounts for about 0.8% of Kercheville Advisors LLC’s portfolio, making the stock its 27th largest holding. Kercheville Advisors LLC’s holdings in Energy Transfer were worth $1,956,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ET. LRI Investments LLC bought a new position in Energy Transfer during the first quarter worth about $29,000. HWG Holdings LP bought a new stake in Energy Transfer in the 2nd quarter valued at $33,000. Sugarloaf Wealth Management LLC lifted its holdings in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares during the last quarter. EdgeRock Capital LLC bought a new position in Energy Transfer during the second quarter worth $42,000. Finally, Hudson Edge Investment Partners Inc. acquired a new position in shares of Energy Transfer in the second quarter valued at $42,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $16.45 on Monday. The firm has a 50 day simple moving average of $16.16 and a 200 day simple moving average of $15.97. The company has a market cap of $55.44 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 0.49 and a beta of 1.66. Energy Transfer LP has a one year low of $12.90 and a one year high of $16.64. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92.

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). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same period in the previous year, the company earned $0.25 EPS. Energy Transfer’s revenue for the quarter was up 13.1% on a year-over-year basis. Research analysts predict that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ET. Royal Bank of Canada upped their price target on shares of 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 raised their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $20.00.

Insider Transactions at Energy Transfer

In related news, Director Kelcy L. Warren bought 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price 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 approximately $9,270,188.48. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kelcy L. Warren acquired 3,000,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 3,040,000 shares of company stock worth $47,667,200. Company insiders own 3.28% of the company’s stock.

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.