Energy Transfer LP $ET Stock Position Raised by CoreCap Advisors LLC

CoreCap Advisors LLC lifted its stake in shares of Energy Transfer LP (NYSE:ET) by 14.7% during the third quarter, Holdings Channel reports. The firm owned 238,178 shares of the pipeline company’s stock after purchasing an additional 30,607 shares during the quarter. CoreCap Advisors LLC’s holdings in Energy Transfer were worth $4,087,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ryan Investment Management Inc. acquired a new stake in Energy Transfer during the 2nd quarter worth about $31,000. CNB Bank increased its position in shares of Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 1,000 shares in the last quarter. HHM Wealth Advisors LLC increased its position in shares of Energy Transfer by 54.4% in the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 800 shares in the last quarter. Crowley Wealth Management Inc. acquired a new stake in shares of Energy Transfer during the second quarter valued at approximately $44,000. Finally, FSC Wealth Advisors LLC purchased a new stake in shares of Energy Transfer in the 2nd quarter valued at approximately $50,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Trading Up 1.6%

Shares of NYSE ET opened at $16.51 on Thursday. The stock has a market cap of $56.69 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 0.85 and a beta of 0.66. The business has a 50 day simple moving average of $16.58 and a 200 day simple moving average of $17.10. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). The business had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. Energy Transfer’s revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. On average, research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were issued a $0.3325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date was Friday, November 7th. Energy Transfer’s dividend payout ratio is currently 106.40%.

Insider Buying and Selling

In other Energy Transfer news, Director Kelcy L. Warren bought 1,000,000 shares of the stock in a transaction on Wednesday, November 19th. The shares were purchased at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the transaction, the director directly owned 104,577,803 shares of the company’s stock, valued at $1,772,593,760.85. This represents a 0.97% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.28% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ET has been the topic of several research analyst reports. Barclays reiterated an “overweight” rating and set a $25.00 price objective on shares of Energy Transfer in a research report on Wednesday, October 15th. Morgan Stanley lowered their price target on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. JPMorgan Chase & Co. dropped their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Monday, November 24th. Royal Bank Of Canada upgraded Energy Transfer to a “moderate buy” rating in a research report on Monday, December 15th. Finally, Scotiabank lowered their target price on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a research note on Thursday, November 13th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.75.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.