Turtle Creek Wealth Advisors LLC Trims Position in Energy Transfer LP (NYSE:ET)

Turtle Creek Wealth Advisors LLC decreased its position in shares of Energy Transfer LP (NYSE:ET) by 3.7% during the third quarter, Holdings Channel reports. The institutional investor owned 150,832 shares of the pipeline company’s stock after selling 5,750 shares during the period. Turtle Creek Wealth Advisors LLC’s holdings in Energy Transfer were worth $2,421,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ET. Berkley W R Corp raised its position in shares of Energy Transfer by 11.6% during the first quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock valued at $83,912,000 after buying an additional 555,445 shares during the last quarter. GFS Advisors LLC boosted its holdings in shares of Energy Transfer by 19,380.5% during the 3rd quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company’s stock valued at $963,000 after purchasing an additional 59,692 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Energy Transfer by 491.3% in the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock worth $20,297,000 after buying an additional 1,072,144 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Energy Transfer by 1,491.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after acquiring an additional 3,913,266 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Energy Transfer by 35.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 961,030 shares of the pipeline company’s stock worth $15,425,000 after buying an additional 250,771 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.8 %

Shares of NYSE:ET traded up $0.14 on Friday, reaching $17.29. The company had a trading volume of 13,134,774 shares, compared to its average volume of 13,358,623. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $59.20 billion, a PE ratio of 12.71, a PEG ratio of 0.52 and a beta of 1.66. The firm’s 50 day simple moving average is $16.42 and its 200-day simple moving average is $16.09. Energy Transfer LP has a 52-week low of $13.11 and a 52-week high of $17.71.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same period in the previous year, the company earned $0.31 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts expect that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.3225 per share. The ex-dividend date is Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 7.46%. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ET shares. UBS Group increased their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Royal Bank of Canada lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Bank of America began 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 on the stock. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Energy Transfer has a consensus rating of “Buy” and a consensus target price of $20.00.

Insider Buying and Selling at Energy Transfer

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were acquired 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. This trade represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.28% of the stock is currently owned by company insiders.

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.