Cambiar Investors LLC Sells 3,704 Shares of Energy Transfer LP (NYSE:ET)

Cambiar Investors LLC lowered its position in shares of Energy Transfer LP (NYSE:ET) by 1.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 317,507 shares of the pipeline company’s stock after selling 3,704 shares during the quarter. Cambiar Investors LLC’s holdings in Energy Transfer were worth $5,096,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Rehmann Capital Advisory Group boosted its holdings in Energy Transfer by 2.0% in the 1st quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock valued at $505,000 after purchasing an additional 633 shares during the period. Veracity Capital LLC boosted its stake in shares of Energy Transfer by 2.0% in the second quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock valued at $545,000 after buying an additional 659 shares during the period. Sfmg LLC grew its position in Energy Transfer by 2.2% during the first quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock worth $494,000 after buying an additional 674 shares in the last quarter. Morton Capital Management LLC CA increased its stake in Energy Transfer by 1.6% during the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock worth $720,000 after acquiring an additional 699 shares during the period. Finally, FinTrust Capital Advisors LLC increased its stake in Energy Transfer by 3.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock worth $318,000 after acquiring an additional 700 shares during the period. Institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Royal Bank of Canada increased their target price 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 upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Eight equities research 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.

Insider Buying and Selling

In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the transaction, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Kelcy L. Warren acquired 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought 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 directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gregory G. Mcilwain bought 20,000 shares of Energy Transfer stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,040,000 shares of company stock worth $47,667,200 in the last ninety days. Company insiders own 3.28% of the company’s stock.

Energy Transfer Stock Down 0.3 %

Shares of NYSE:ET opened at $16.43 on Friday. Energy Transfer LP has a 52-week low of $13.01 and a 52-week high of $16.64. The company has a market capitalization of $56.21 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. 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 company has a fifty day moving average of $16.19 and a 200-day moving average of $15.99.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (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 analyst estimates of $22.01 billion. During the same period in the previous year, the company earned $0.25 EPS. Energy Transfer’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, equities analysts predict that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 7.85%. Energy Transfer’s dividend payout ratio (DPR) is presently 107.56%.

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.