Energy Transfer LP (NYSE:ET) Shares Acquired by StoneX Group Inc.

StoneX Group Inc. increased its position in shares of Energy Transfer LP (NYSE:ET) by 5.8% in the third quarter, HoldingsChannel.com reports. The firm owned 81,090 shares of the pipeline company’s stock after acquiring an additional 4,467 shares during the quarter. StoneX Group Inc.’s holdings in Energy Transfer were worth $1,301,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Fortis Capital Management LLC grew its position in Energy Transfer by 2.0% during the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock worth $513,000 after purchasing an additional 634 shares during the last quarter. Princeton Global Asset Management LLC increased 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 during the period. Veracity Capital LLC raised its stake in Energy Transfer by 2.0% during the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock valued at $545,000 after acquiring an additional 659 shares during the last quarter. Haverford Trust Co lifted its position in Energy Transfer by 0.7% during the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock worth $1,640,000 after acquiring an additional 675 shares during the period. Finally, Morton Capital Management LLC CA grew its stake in shares of Energy Transfer by 1.6% in the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock valued at $720,000 after purchasing an additional 699 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET stock opened at $19.07 on Monday. The firm has a 50 day moving average of $16.66 and a 200-day moving average of $16.18. The company has a market cap of $65.29 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.61 and a beta of 1.66. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 12-month low of $13.11 and a 12-month high of $19.20.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share. As a group, equities analysts expect 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 $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is currently 94.85%.

Analysts Set New Price Targets

ET has been the subject of several recent research reports. Royal Bank of Canada increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. UBS Group raised their target price 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. Finally, Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $20.00.

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.