PSI Advisors LLC Cuts Stock Holdings in Energy Transfer LP (NYSE:ET)

PSI Advisors LLC reduced its stake in Energy Transfer LP (NYSE:ET) by 2.7% during the third quarter, HoldingsChannel reports. The firm owned 271,565 shares of the pipeline company’s stock after selling 7,624 shares during the period. Energy Transfer comprises about 1.3% of PSI Advisors LLC’s portfolio, making the stock its 20th biggest holding. PSI Advisors LLC’s holdings in Energy Transfer were worth $4,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Energy Transfer by 12.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after buying an additional 4,141,715 shares during the last quarter. International Assets Investment Management LLC grew its position in Energy Transfer by 1,491.0% in the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after acquiring an additional 3,913,266 shares in the last quarter. Natixis increased its stake in Energy Transfer by 20.0% in the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after acquiring an additional 2,999,300 shares during the last quarter. Payden & Rygel Investment Group purchased a new stake in Energy Transfer during the first quarter valued at about $20,164,000. Finally, Merewether Investment Management LP raised its position in Energy Transfer by 22.3% during the second quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock valued at $106,919,000 after purchasing an additional 1,200,501 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Trading Up 0.3 %

NYSE ET opened at $16.43 on Thursday. The firm has a market cap of $55.37 billion, a PE ratio of 15.02, a price-to-earnings-growth 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 stock has a 50-day moving average of $16.15 and a 200-day moving average of $15.96. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on ET. 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 for the company. Royal Bank of Canada upped their target price on 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 lifted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $20.00.

Insider Activity at Energy Transfer

In other news, CEO Thomas E. Long purchased 20,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the transaction, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of the stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the transaction, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kelcy L. Warren acquired 3,000,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the acquisition, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This trade represents 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 in the last three months. 3.28% of the stock is owned by insiders.

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.