Summit Trail Advisors LLC Has $562,000 Stock Holdings in Energy Transfer LP (NYSE:ET)

Summit Trail Advisors LLC trimmed its position in Energy Transfer LP (NYSE:ET) by 8.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,020 shares of the pipeline company’s stock after selling 3,094 shares during the quarter. Summit Trail Advisors LLC’s holdings in Energy Transfer were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Tortoise Capital Advisors L.L.C. increased its position in 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 worth $594,769,000 after buying an additional 4,141,715 shares during the period. Westwood Holdings Group Inc. grew its stake in shares of Energy Transfer by 1.1% in the second quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock worth $261,263,000 after acquiring an additional 171,720 shares during the last quarter. Chickasaw Capital Management LLC increased its position in Energy Transfer by 3.1% during the third quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock worth $246,376,000 after acquiring an additional 466,565 shares during the period. Citigroup Inc. raised its stake in Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after purchasing an additional 3,013,973 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in Energy Transfer by 7.9% in the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,293,510 shares of the pipeline company’s stock valued at $117,061,000 after purchasing an additional 536,047 shares during the period. 38.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Energy Transfer Trading Up 1.2 %

ET stock opened at $19.19 on Wednesday. Energy Transfer LP has a 1-year low of $13.11 and a 1-year high of $19.35. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The business’s 50 day moving average is $16.78 and its 200-day moving average is $16.22. The firm has a market cap of $65.71 billion, a P/E ratio of 14.11, a P/E/G ratio of 0.61 and a beta of 1.66.

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

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

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.