Crewe Advisors LLC Raises Holdings in Energy Transfer LP (NYSE:ET)

Crewe Advisors LLC raised its position in Energy Transfer LP (NYSE:ET) by 2,170.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 12,194 shares of the pipeline company’s stock after purchasing an additional 11,657 shares during the period. Crewe Advisors LLC’s holdings in Energy Transfer were worth $192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ET. UBS Group AG boosted its holdings in Energy Transfer by 13.3% in the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock valued at $395,270,000 after purchasing an additional 3,368,427 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Energy Transfer by 38.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after purchasing an additional 7,097,074 shares during the period. Clearbridge Investments LLC increased its position in shares of Energy Transfer by 18.5% during the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock worth $350,845,000 after purchasing an additional 3,976,676 shares during the last quarter. First Reserve GP XIII Ltd purchased a new stake in Energy Transfer in the 4th quarter valued at about $322,097,000. Finally, Natixis lifted its position in Energy Transfer by 20.0% in the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after buying an additional 2,999,300 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Mizuho lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Morgan Stanley lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Stifel Nicolaus raised their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Finally, UBS Group upped their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Stock Down 0.3 %

NYSE:ET traded down $0.05 during midday trading on Thursday, hitting $16.13. 36,165,433 shares of the company were exchanged, compared to its average volume of 12,642,281. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a fifty-two week low of $12.46 and a fifty-two week high of $16.50. The company has a market capitalization of $54.36 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 0.45 and a beta of 1.66. The company has a fifty day simple moving average of $15.87 and a 200 day simple moving average of $15.33.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). The firm had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. As a group, equities analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

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.