Clear Street Derivatives LLC Makes New Investment in Energy Transfer LP (NYSE:ET)

Clear Street Derivatives LLC purchased a new stake in shares of Energy Transfer LP (NYSE:ET) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 159,800 shares of the pipeline company’s stock, valued at approximately $2,565,000. Energy Transfer comprises about 0.0% of Clear Street Derivatives LLC’s portfolio, making the stock its 20th biggest holding.

A number of other large investors have also recently made changes to their positions in ET. FMR LLC increased its position in Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its position in shares of Energy Transfer by 12.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after purchasing an additional 4,141,715 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Energy Transfer by 1,491.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock valued at $67,020,000 after purchasing an additional 3,913,266 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after buying an additional 3,106,631 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after buying an additional 3,013,973 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on ET. 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 price target on the stock. Royal Bank of Canada raised their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, UBS Group upped their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $20.00.

Energy Transfer Stock Performance

NYSE ET opened at $19.86 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a twelve month low of $13.11 and a twelve month high of $20.02. The business has a 50-day moving average price of $16.99 and a 200-day moving average price of $16.30. The firm has a market cap of $68.00 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 0.64 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted 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. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. As a group, equities research analysts predict that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.50%. 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.