Welch Group LLC Buys Shares of 28,489 Energy Transfer LP (NYSE:ET)

Welch Group LLC purchased a new position in Energy Transfer LP (NYSE:ET) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 28,489 shares of the pipeline company’s stock, valued at approximately $457,000.

A number of other large investors have also added to or reduced their stakes in ET. Insight Folios Inc raised its position in shares of Energy Transfer by 4.3% in the 3rd quarter. Insight Folios Inc now owns 542,364 shares of the pipeline company’s stock valued at $8,705,000 after purchasing an additional 22,553 shares during the last quarter. Covenant Partners LLC purchased a new stake in Energy Transfer in the third quarter valued at $239,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Energy Transfer by 3.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 718,823 shares of the pipeline company’s stock worth $11,537,000 after buying an additional 22,053 shares during the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Energy Transfer by 1,837.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock worth $21,489,000 after purchasing an additional 1,269,778 shares during the period. Finally, Allworth Financial LP grew its position in Energy Transfer by 11.7% during the third quarter. Allworth Financial LP now owns 33,880 shares of the pipeline company’s stock valued at $544,000 after buying an additional 3,540 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada raised their target price 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. Finally, UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Trading Down 0.8 %

Shares of ET stock traded down $0.13 on Monday, hitting $16.32. The stock had a trading volume of 2,357,694 shares, compared to its average volume of 12,986,447. 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 firm has a market capitalization of $55.00 billion, a P/E ratio of 15.09, a P/E/G ratio of 0.49 and a beta of 1.66. The company’s 50 day moving average price is $16.16 and its 200-day moving average price is $15.97. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.64.

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. Analysts anticipate that Energy Transfer LP will post 1.35 earnings per share for the current year.

Insider Buying and Selling

In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction on 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 acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gregory G. Mcilwain bought 20,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the executive vice president now owns 591,211 shares of the company’s stock, 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. Insiders bought 3,040,000 shares of company stock worth $47,667,200 over the last 90 days. 3.28% of the stock is owned by insiders.

About Energy Transfer

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.