Energy Transfer LP (NYSE:ET) Shares Purchased by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC raised its stake in Energy Transfer LP (NYSE:ET) by 1,837.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,338,885 shares of the pipeline company’s stock after purchasing an additional 1,269,778 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Energy Transfer were worth $21,489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Global Assets Advisory LLC purchased a new position in shares of Energy Transfer in the 1st quarter worth about $204,000. Brookstone Capital Management lifted its position in Energy Transfer by 3.2% during the first quarter. Brookstone Capital Management now owns 190,124 shares of the pipeline company’s stock valued at $2,991,000 after buying an additional 5,894 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Energy Transfer by 2.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 549,971 shares of the pipeline company’s stock worth $8,651,000 after buying an additional 15,097 shares during the period. Toth Financial Advisory Corp increased its position in shares of Energy Transfer by 57.8% in the first quarter. Toth Financial Advisory Corp now owns 5,155 shares of the pipeline company’s stock worth $81,000 after acquiring an additional 1,888 shares in the last quarter. Finally, Romano Brothers AND Company increased its position in shares of Energy Transfer by 46.7% in the first quarter. Romano Brothers AND Company now owns 32,482 shares of the pipeline company’s stock worth $511,000 after acquiring an additional 10,343 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Up 0.3 %

NYSE ET traded up $0.05 during trading hours on Friday, reaching $16.45. 10,546,947 shares of the company traded hands, compared to its average volume of 13,042,334. The company has a 50 day moving average of $16.16 and a two-hundred day moving average of $15.96. The stock has a market capitalization of $55.44 billion, a PE ratio of 15.10, a PEG ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a 12 month low of $12.90 and a 12 month high of $16.64. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same quarter last year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities analysts expect that Energy Transfer LP will post 1.35 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregory G. Mcilwain purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. 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 executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is currently owned by insiders.

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.