124,885 Shares in Energy Transfer LP (NYSE:ET) Bought by FORA Capital LLC

FORA Capital LLC purchased a new stake in shares of Energy Transfer LP (NYSE:ET) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 124,885 shares of the pipeline company’s stock, valued at approximately $2,004,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empowered Funds LLC lifted its holdings in shares of Energy Transfer by 15.0% in the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after purchasing an additional 45,172 shares in the last quarter. Kingsview Wealth Management LLC raised its position in Energy Transfer by 30.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after buying an additional 57,184 shares during the last quarter. GFS Advisors LLC lifted its stake in Energy Transfer by 19,380.5% during the 3rd quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company’s stock valued at $963,000 after acquiring an additional 59,692 shares in the last quarter. Icon Wealth Advisors LLC boosted its holdings in Energy Transfer by 239.0% during the 3rd quarter. Icon Wealth Advisors LLC now owns 563,458 shares of the pipeline company’s stock worth $9,044,000 after acquiring an additional 397,260 shares during the last quarter. Finally, MAI Capital Management grew its stake in shares of Energy Transfer by 5.9% in the 3rd quarter. MAI Capital Management now owns 698,113 shares of the pipeline company’s stock worth $11,205,000 after acquiring an additional 39,029 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 1.0 %

NYSE:ET opened at $19.40 on Thursday. Energy Transfer LP has a 12 month low of $13.11 and a 12 month high of $19.71. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The firm’s 50 day moving average is $16.85 and its 200 day moving average is $16.25. The stock has a market capitalization of $66.42 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.31 EPS. Sell-side analysts expect that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.65%. Energy Transfer’s dividend payout ratio is presently 94.85%.

Analyst Ratings Changes

A number of research firms recently weighed in on ET. 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. Royal Bank of Canada boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. 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 a consensus price target 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.