Oppenheimer & Co. Inc. Boosts Holdings in Energy Transfer LP (NYSE:ET)

Oppenheimer & Co. Inc. boosted its position in Energy Transfer LP (NYSE:ET) by 35.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 961,030 shares of the pipeline company’s stock after buying an additional 250,771 shares during the period. Oppenheimer & Co. Inc.’s holdings in Energy Transfer were worth $15,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently made changes to their positions in ET. Headlands Technologies LLC purchased a new stake in shares of Energy Transfer during the 1st quarter worth $86,000. Eagle Bay Advisors LLC purchased a new stake in shares of Energy Transfer during the 1st quarter worth $66,000. Kingsview Wealth Management LLC raised its stake in shares of Energy Transfer by 17.1% during the 1st quarter. Kingsview Wealth Management LLC now owns 143,825 shares of the pipeline company’s stock worth $2,262,000 after buying an additional 20,961 shares during the last quarter. Forum Financial Management LP raised its stake in Energy Transfer by 3.4% in the 1st quarter. Forum Financial Management LP now owns 119,075 shares of the pipeline company’s stock valued at $1,873,000 after purchasing an additional 3,929 shares during the last quarter. Finally, Anthracite Investment Company Inc. raised its stake in Energy Transfer by 8.4% in the 1st quarter. Anthracite Investment Company Inc. now owns 259,210 shares of the pipeline company’s stock valued at $4,077,000 after purchasing an additional 20,000 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of Energy Transfer stock traded up $0.03 on Wednesday, hitting $17.08. The company had a trading volume of 981,162 shares, compared to its average volume of 13,237,849. The company has a market cap of $58.48 billion, a PE ratio of 12.52, a PEG ratio of 0.52 and a beta of 1.66. Energy Transfer LP has a 52 week low of $13.11 and a 52 week high of $17.71. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.92. The business has a 50-day simple moving average of $16.35 and a 200-day simple moving average of $16.07.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.31 EPS. Research analysts expect that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently announced 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 7.55%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Insiders Place Their Bets

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.28% of the company’s stock.

Wall Street Analyst Weigh In

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

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.