16,362 Shares in Energy Transfer LP (NYSE:ET) Purchased by Executive Wealth Management LLC

Executive Wealth Management LLC acquired a new position in shares of Energy Transfer LP (NYSE:ET) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,362 shares of the pipeline company’s stock, valued at approximately $263,000.

Other hedge funds also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. boosted its stake in Energy Transfer by 12.7% during the second 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 period. FMR LLC boosted its stake in Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after buying an additional 10,195,768 shares during the period. Westwood Holdings Group Inc. boosted its stake in Energy Transfer by 1.1% during the second quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock worth $261,263,000 after buying an additional 171,720 shares during the period. Chickasaw Capital Management LLC boosted its stake in Energy Transfer by 3.1% during the third quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock worth $246,376,000 after buying an additional 466,565 shares during the period. Finally, Brookfield Corp ON boosted its stake in Energy Transfer by 2.8% during the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after buying an additional 352,625 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.5 %

Shares of NYSE:ET opened at $18.74 on Wednesday. The firm’s 50 day moving average price is $17.35 and its 200 day moving average price is $16.44. The stock has a market cap of $64.16 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. Energy Transfer LP has a fifty-two week low of $13.11 and a fifty-two week high of $20.02. 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 (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 earnings per share. As a group, equities research analysts predict that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.88%. Energy Transfer’s payout ratio is currently 94.85%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Royal Bank of Canada increased their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday. UBS Group raised their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Bank of America assumed 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. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $20.38.

About Energy Transfer

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.