Aptus Capital Advisors LLC Acquires 18,640 Shares of Energy Transfer LP (NYSE:ET)

Aptus Capital Advisors LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 1.7% during the third quarter, Holdings Channel.com reports. The fund owned 1,118,458 shares of the pipeline company’s stock after purchasing an additional 18,640 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Energy Transfer were worth $17,951,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC boosted its stake in shares of 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 purchasing an additional 650 shares in the last quarter. Assetmark Inc. raised its holdings in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the last quarter. LRI Investments LLC bought a new position in Energy Transfer during the 1st quarter worth approximately $29,000. HWG Holdings LP bought a new position in Energy Transfer during the 2nd quarter worth approximately $33,000. Finally, Sugarloaf Wealth Management LLC increased its stake in shares of Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 750 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Down 0.9 %

ET traded down $0.15 during mid-day trading on Tuesday, reaching $17.09. 2,737,587 shares of the stock were exchanged, compared to its average volume of 13,256,433. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The stock has a market capitalization of $58.49 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 0.53 and a beta of 1.66. The company has a 50 day moving average price of $16.33 and a two-hundred day moving average price of $16.06. Energy Transfer LP has a 1 year low of $13.11 and a 1 year high of $17.71.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion for 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 12.64%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS. As a group, research analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be paid a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 7.55%. The ex-dividend date of this dividend is Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ET. Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. Royal Bank of Canada lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research report 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 company a “buy” rating in a research report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $20.00.

Insider Activity at Energy Transfer

In other news, EVP Gregory G. Mcilwain acquired 20,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.28% of the stock is currently owned by company insiders.

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.