Curi RMB Capital LLC Buys 3,608 Shares of Energy Transfer LP (NYSE:ET)

Curi RMB Capital LLC boosted its stake in Energy Transfer LP (NYSE:ET) by 8.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,930 shares of the pipeline company’s stock after acquiring an additional 3,608 shares during the period. Curi RMB Capital LLC’s holdings in Energy Transfer were worth $721,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Tortoise Capital Advisors L.L.C. boosted its holdings in Energy Transfer by 12.7% in the second 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 acquiring an additional 4,141,715 shares during the last quarter. Natixis lifted its stake in Energy Transfer by 20.0% in the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after buying an additional 2,999,300 shares during the period. Westwood Holdings Group Inc. lifted its stake in 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 valued at $261,263,000 after buying an additional 171,720 shares during the period. Chickasaw Capital Management LLC lifted its stake in Energy Transfer by 3.1% in the third quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock valued at $246,376,000 after buying an additional 466,565 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in Energy Transfer by 7.9% in the third 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 buying an additional 536,047 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ET shares. Bank of America started coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. UBS Group boosted their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, 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. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Stock Up 0.8 %

Shares of NYSE:ET opened at $17.29 on Friday. Energy Transfer LP has a 1 year low of $13.11 and a 1 year high of $17.71. The company has a market capitalization of $59.18 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 0.52 and a beta of 1.66. The business has a fifty day moving average price of $16.39 and a two-hundred day moving average price of $16.08. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.92.

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

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be paid a $0.3225 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 7.46%. Energy Transfer’s payout ratio is 94.85%.

Insider Buying and Selling at Energy Transfer

In other news, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. The trade was a 3.50 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.28% of the stock is owned by corporate 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.