Thompson Davis & CO. Inc. Sells 1,250 Shares of Energy Transfer LP (NYSE:ET)

Thompson Davis & CO. Inc. trimmed its holdings in Energy Transfer LP (NYSE:ET) by 10.8% during the third quarter, Holdings Channel reports. The institutional investor owned 10,350 shares of the pipeline company’s stock after selling 1,250 shares during the quarter. Thompson Davis & CO. Inc.’s holdings in Energy Transfer were worth $166,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Princeton Global Asset Management LLC lifted its position in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Energy Transfer during the first quarter valued at approximately $29,000. HWG Holdings LP bought a new stake in Energy Transfer during the second quarter worth $33,000. Finally, Sugarloaf Wealth Management LLC grew its holdings in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Price Performance

ET opened at $17.96 on Wednesday. Energy Transfer LP has a fifty-two week low of $13.11 and a fifty-two week high of $18.08. The firm has a 50-day moving average of $16.50 and a 200 day moving average of $16.13. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The firm has a market cap of $61.49 billion, a P/E ratio of 13.21, a PEG ratio of 0.53 and a beta of 1.66.

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

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 7.18%. Energy Transfer’s payout ratio is presently 94.85%.

Insider Activity

In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. This trade represents a 3.50 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.28% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ET. Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. 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 report on Wednesday, September 18th. Finally, Royal Bank of Canada upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Energy Transfer has a consensus rating of “Buy” and a consensus price target of $20.00.

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.