Energy Transfer LP (NYSE:ET) Shares Bought by Stephens Inc. AR

Stephens Inc. AR grew its stake in shares of Energy Transfer LP (NYSE:ET) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,152,552 shares of the pipeline company’s stock after purchasing an additional 30,836 shares during the quarter. Stephens Inc. AR’s holdings in Energy Transfer were worth $18,498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. LRI Investments LLC acquired a new position in shares of Energy Transfer in the 1st quarter valued at $29,000. HWG Holdings LP acquired a new position in shares of Energy Transfer in the 2nd quarter valued at $33,000. Sugarloaf Wealth Management LLC increased its holdings in shares of Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 750 shares during the period. EdgeRock Capital LLC acquired a new position in shares of Energy Transfer in the 2nd quarter valued at $42,000. Finally, Hudson Edge Investment Partners Inc. acquired a new position in shares of Energy Transfer in the 2nd quarter valued at $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Thomas E. Long bought 20,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the transaction, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In other Energy Transfer news, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas E. Long acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 3,040,000 shares of company stock worth $47,667,200. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET opened at $16.46 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The stock has a market capitalization of $56.31 billion, a P/E ratio of 13.83, a P/E/G ratio of 0.50 and a beta of 1.66. The company’s fifty day moving average is $16.19 and its two-hundred day moving average is $15.99. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.64.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. Energy Transfer’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. On average, sell-side analysts predict 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 given 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 7.84%. Energy Transfer’s payout ratio is currently 107.56%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank of Canada lifted their target price 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. Bank of America began coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, UBS Group boosted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $20.00.

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.