Warther Private Wealth LLC Cuts Holdings in Energy Transfer LP (NYSE:ET)

Warther Private Wealth LLC lowered its position in Energy Transfer LP (NYSE:ET) by 6.3% in the third quarter, HoldingsChannel reports. The fund owned 30,000 shares of the pipeline company’s stock after selling 2,000 shares during the quarter. Warther Private Wealth LLC’s holdings in Energy Transfer were worth $482,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Rehmann Capital Advisory Group raised its position in Energy Transfer by 2.0% during the first quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock worth $505,000 after acquiring an additional 633 shares during the period. Veracity Capital LLC grew its holdings in shares of Energy Transfer by 2.0% during the second quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock worth $545,000 after buying an additional 659 shares in the last quarter. Sfmg LLC raised its position in shares of Energy Transfer by 2.2% in the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after buying an additional 674 shares during the last quarter. Morton Capital Management LLC CA lifted its stake in shares of Energy Transfer by 1.6% in the second quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock worth $720,000 after buying an additional 699 shares in the last quarter. Finally, FinTrust Capital Advisors LLC boosted its position in Energy Transfer by 3.6% during the first quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock worth $318,000 after acquiring an additional 700 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

NYSE ET opened at $16.42 on Friday. The company has a market cap of $55.34 billion, a P/E ratio of 15.05, a P/E/G ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a 1-year low of $12.90 and a 1-year high of $16.64. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The stock has a 50-day moving average of $16.15 and a two-hundred day moving average of $15.96.

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

Insider Buying and Selling at Energy Transfer

In related news, CEO Thomas E. Long acquired 20,000 shares of the stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Thomas E. Long acquired 20,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kelcy L. Warren bought 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 3,040,000 shares of company stock valued at $47,667,200 in the last quarter. Corporate insiders own 3.28% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.