Energy Transfer LP (NYSE:ET) Shares Bought by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,858 shares of the pipeline company’s stock after buying an additional 709 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Energy Transfer were worth $522,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. LRI Investments LLC purchased a new stake in shares of Energy Transfer in the first quarter valued at approximately $29,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer in the second quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC increased its position in shares of Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after buying an additional 750 shares in the last quarter. Hudson Edge Investment Partners Inc. purchased a new stake in shares of Energy Transfer in the second quarter valued at approximately $42,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of Energy Transfer in the second quarter valued at approximately $42,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Energy Transfer

In related news, CEO Thomas E. Long bought 20,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the purchase, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost 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. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 3,040,000 shares of company stock worth $47,667,200 in the last three months. 3.28% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ET. Royal Bank of Canada boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Finally, UBS Group boosted 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. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $20.00.

Energy Transfer Stock Up 0.5 %

Shares of NYSE:ET opened at $16.46 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The business has a fifty day moving average of $16.18 and a two-hundred day moving average of $15.98. The stock has a market cap of $55.47 billion, a P/E ratio of 15.10, a PEG ratio of 0.49 and a beta of 1.66. Energy Transfer LP has a 52-week low of $12.90 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 the consensus estimate of $0.36 by ($0.01). The company had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 earnings per share. On average, research analysts expect that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 7.84%. The ex-dividend date of this dividend is Friday, November 8th. Energy Transfer’s payout ratio is currently 117.43%.

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.