Empowered Funds LLC Purchases 45,172 Shares of Energy Transfer LP (NYSE:ET)

Empowered Funds LLC grew its position in shares of Energy Transfer LP (NYSE:ET) by 15.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 346,825 shares of the pipeline company’s stock after buying an additional 45,172 shares during the quarter. Empowered Funds LLC’s holdings in Energy Transfer were worth $5,567,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ET. Princeton Global Asset Management LLC raised its holdings in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. raised its stake in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Energy Transfer during the first quarter worth approximately $29,000. HWG Holdings LP bought a new stake in shares of Energy Transfer during the second quarter valued at approximately $33,000. Finally, Sugarloaf Wealth Management LLC increased its holdings in shares of Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.8 %

Shares of Energy Transfer stock opened at $17.29 on Monday. The business has a fifty day simple moving average of $16.42 and a 200 day simple moving average of $16.10. The stock has a market cap of $59.20 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 0.53 and a beta of 1.66. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 12 month low of $13.11 and a 12 month high of $17.71.

Energy Transfer (NYSE:ET) last posted its earnings results 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 company had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.31 EPS. Research analysts predict that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be issued a $0.3225 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 7.46%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Analyst Upgrades and Downgrades

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

Insider Transactions at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. This trade represents a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.28% of the company’s stock.

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.