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

Oppenheimer & Co. Inc. boosted its position in shares of Energy Transfer LP (NYSE:ET) by 35.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 961,030 shares of the pipeline company’s stock after buying an additional 250,771 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Energy Transfer were worth $15,425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Princeton Global Asset Management LLC grew its stake in 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 valued at $26,000 after acquiring an additional 650 shares during the period. Veracity Capital LLC grew its stake in Energy Transfer by 2.0% in the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock valued at $545,000 after acquiring an additional 659 shares during the period. Haverford Trust Co grew its stake in Energy Transfer by 0.7% in the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock valued at $1,640,000 after acquiring an additional 675 shares during the period. Morton Capital Management LLC CA boosted 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 purchasing an additional 699 shares during the last quarter. Finally, Rockwood Wealth Management LLC boosted its stake in Energy Transfer by 0.5% during the 2nd quarter. Rockwood Wealth Management LLC now owns 128,122 shares of the pipeline company’s stock worth $2,078,000 after purchasing an additional 700 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Energy Transfer

In other news, EVP Gregory G. Mcilwain acquired 20,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were 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 directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 3.28% of the stock is currently owned by insiders.

Energy Transfer Stock Up 0.2 %

NYSE:ET traded up $0.03 during mid-day trading on Wednesday, hitting $17.08. The stock had a trading volume of 981,162 shares, compared to its average volume of 13,237,849. The stock has a 50-day simple moving average of $16.35 and a two-hundred day simple moving average of $16.07. The company has a market capitalization 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 twelve month low of $13.11 and a twelve month high of $17.71. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion for 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 for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm posted $0.31 earnings per share. On average, equities research analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be given a dividend of $0.3225 per share. The ex-dividend date is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.55%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Wall Street Analyst Weigh In

ET has been the topic of several recent research reports. Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Royal Bank of Canada upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $20.00.

Energy Transfer Company 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.