Energy Transfer LP (NYSE:ET) Shares Purchased by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 4.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 361,762 shares of the pipeline company’s stock after acquiring an additional 16,856 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Energy Transfer were worth $5,806,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in ET. Princeton Global Asset Management LLC boosted its stake in shares of Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares in the last quarter. LRI Investments LLC purchased a new stake in Energy Transfer during the first quarter worth $29,000. HWG Holdings LP purchased a new stake in Energy Transfer during the second quarter worth $33,000. Sugarloaf Wealth Management LLC grew its holdings in Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares during the last quarter. Finally, EdgeRock Capital LLC purchased a new position in shares of Energy Transfer in the second quarter valued at $42,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Energy Transfer

In related news, EVP Gregory G. Mcilwain bought 20,000 shares of the company’s 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 acquisition, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kelcy L. Warren bought 3,000,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 3,040,000 shares of company stock valued at $47,667,200 over the last three months. 3.28% of the stock is owned by company insiders.

Energy Transfer Trading Up 2.3 %

Shares of ET stock opened at $16.89 on Wednesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The firm has a market cap of $57.80 billion, a P/E ratio of 14.19, a PEG ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a 1-year low of $13.01 and a 1-year high of $16.91. The firm’s 50-day simple moving average is $16.22 and its 200-day simple moving average is $16.02.

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

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be issued a $0.3225 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 7.64%. Energy Transfer’s dividend payout ratio is currently 107.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Royal Bank of Canada lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, UBS Group increased their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, Energy Transfer currently has an average rating of “Buy” and a consensus price target of $20.00.

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.