One Charles Private Wealth Services LLC Has $1.11 Million Holdings in Energy Transfer LP (NYSE:ET)

One Charles Private Wealth Services LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 245.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,127 shares of the pipeline company’s stock after acquiring an additional 49,127 shares during the period. One Charles Private Wealth Services LLC’s holdings in Energy Transfer were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ET. Tortoise Capital Advisors L.L.C. increased its position in shares of Energy Transfer by 12.7% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after acquiring an additional 4,141,715 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in Energy Transfer by 1.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock worth $261,263,000 after purchasing an additional 171,720 shares during the period. Chickasaw Capital Management LLC increased its holdings in Energy Transfer by 3.1% during the 3rd quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock worth $246,376,000 after purchasing an additional 466,565 shares in the last quarter. Citigroup Inc. raised its stake in shares of Energy Transfer by 45.9% in 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 period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in shares of 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 purchasing an additional 536,047 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ET. Royal Bank of Canada raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Finally, UBS Group boosted their price target on shares of 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.com, the company presently has a consensus rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Stock Performance

Shares of ET stock opened at $19.06 on Friday. Energy Transfer LP has a 52 week low of $13.11 and a 52 week high of $19.20. The company has a market capitalization of $65.26 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 0.61 and a beta of 1.66. The company has a 50-day simple moving average of $16.66 and a 200 day simple moving average of $16.18. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

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

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.77%. Energy Transfer’s payout ratio is 94.85%.

Energy Transfer Company 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.