Energy Transfer LP (NYSE:ET) Shares Acquired by Black Swift Group LLC

Black Swift Group LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 88.3% in the third quarter, HoldingsChannel.com reports. The firm owned 35,714 shares of the pipeline company’s stock after buying an additional 16,750 shares during the quarter. Black Swift Group LLC’s holdings in Energy Transfer were worth $573,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. boosted its position in shares of Energy Transfer by 12.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after purchasing an additional 4,141,715 shares during the period. Natixis boosted its stake in shares of Energy Transfer by 20.0% during the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after buying an additional 2,999,300 shares during the period. Westwood Holdings Group Inc. grew its holdings in shares of Energy Transfer by 1.1% during the second quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock worth $261,263,000 after buying an additional 171,720 shares during the last quarter. Chickasaw Capital Management LLC increased its position in Energy Transfer by 3.1% in the 3rd quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock valued at $246,376,000 after acquiring an additional 466,565 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of Energy Transfer by 7.9% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,293,510 shares of the pipeline company’s stock worth $117,061,000 after purchasing an additional 536,047 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Energy Transfer

In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.28% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ET. Bank of America assumed coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, UBS Group boosted their target price 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Stock Performance

Shares of ET stock remained flat at $17.10 during mid-day trading on Thursday. The stock had a trading volume of 675,305 shares, compared to its average volume of 13,315,769. Energy Transfer LP has a twelve month low of $13.11 and a twelve month high of $17.71. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.92 and a current ratio of 1.08. The firm’s 50-day moving average is $16.37 and its 200-day moving average is $16.08. The firm has a market capitalization of $58.55 billion, a P/E ratio of 12.57, a P/E/G ratio of 0.52 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting 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 prior year, the business earned $0.31 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Research analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.54%. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 94.85%.

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.