Sunbeam Capital Management LLC Purchases 28,880 Shares of Energy Transfer LP $ET

Sunbeam Capital Management LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 170.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,815 shares of the pipeline company’s stock after acquiring an additional 28,880 shares during the quarter. Sunbeam Capital Management LLC’s holdings in Energy Transfer were worth $786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ET. Ryan Investment Management Inc. bought a new position in Energy Transfer during the second quarter worth about $31,000. CNB Bank grew its position in shares of Energy Transfer by 111.1% during the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 1,000 shares in the last quarter. HHM Wealth Advisors LLC increased its holdings in shares of Energy Transfer by 54.4% during the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 800 shares during the period. Crowley Wealth Management Inc. acquired a new stake in shares of Energy Transfer in the second quarter valued at approximately $44,000. Finally, FSC Wealth Advisors LLC bought a new stake in shares of Energy Transfer in the second quarter valued at approximately $50,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on ET. JPMorgan Chase & Co. lowered their price objective on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Energy Transfer in a research note on Wednesday, December 24th. Jefferies Financial Group set a $17.00 price objective on shares of Energy Transfer and gave the stock a “hold” rating in a research report on Tuesday, October 28th. Finally, Morgan Stanley decreased their target price on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Insiders Place Their Bets

In related news, Director Kelcy L. Warren bought 1,000,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were purchased at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the transaction, the director directly owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. This represents a 0.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 3.28% of the stock is owned by corporate insiders.

Energy Transfer Price Performance

Shares of ET stock opened at $17.43 on Thursday. The business has a fifty day simple moving average of $16.61 and a 200 day simple moving average of $17.08. The company has a market cap of $59.85 billion, a P/E ratio of 13.95, a P/E/G ratio of 0.91 and a beta of 0.66. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.06). The business had revenue of $19.95 billion for the quarter, compared to analyst estimates of $21.84 billion. Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The firm’s revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. On average, sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were paid a $0.3325 dividend. This represents a $1.33 annualized dividend and a yield of 7.6%. The ex-dividend date of this dividend was Friday, November 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is currently 106.40%.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.