Energy Transfer LP (NYSE:ET) Shares Purchased by Prospera Financial Services Inc

Prospera Financial Services Inc raised its stake in Energy Transfer LP (NYSE:ET) by 10.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 345,963 shares of the pipeline company’s stock after buying an additional 32,250 shares during the quarter. Prospera Financial Services Inc’s holdings in Energy Transfer were worth $5,553,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Princeton Global Asset Management LLC lifted its holdings in shares of Energy Transfer by 65.0% in 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 during the last quarter. Assetmark Inc. lifted its stake in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Energy Transfer during the first quarter worth $29,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer in the 2nd quarter valued at $33,000. Finally, Sugarloaf Wealth Management LLC lifted its stake in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 2.2 %

Shares of Energy Transfer stock opened at $17.96 on Wednesday. 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 LP has a 52-week low of $13.11 and a 52-week high of $18.08. The company has a market capitalization of $61.49 billion, a P/E ratio of 13.21, a P/E/G ratio of 0.53 and a beta of 1.66. The company has a 50 day moving average of $16.50 and a 200 day moving average of $16.13.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $20.77 billion during 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 company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS. As a group, research analysts forecast that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.18%. Energy Transfer’s payout ratio is currently 94.85%.

Insider Transactions 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 purchased 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 of the company’s stock, valued at approximately $9,270,188.48. This represents a 3.50 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ET. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Royal Bank of Canada upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, UBS Group raised their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Energy Transfer 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.