D.A. Davidson & CO. Acquires 12,146 Shares of Energy Transfer LP (NYSE:ET)

D.A. Davidson & CO. increased its holdings in Energy Transfer LP (NYSE:ET) by 4.6% in the 3rd quarter, Holdings Channel reports. The fund owned 275,483 shares of the pipeline company’s stock after buying an additional 12,146 shares during the quarter. D.A. Davidson & CO.’s holdings in Energy Transfer were worth $4,422,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ET. FMR LLC increased its stake in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after acquiring an additional 10,195,768 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in shares of Energy Transfer by 12.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after acquiring an additional 4,141,715 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Energy Transfer by 1,491.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after acquiring an additional 3,913,266 shares in the last quarter. Citigroup Inc. increased its stake in shares of Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after acquiring an additional 3,013,973 shares in the last quarter. Finally, Pathway Financial Advisers LLC increased its stake in Energy Transfer by 1,837.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock valued at $21,489,000 after purchasing an additional 1,269,778 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $19.42 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a market cap of $66.49 billion, a PE ratio of 14.28, a PEG ratio of 0.61 and a beta of 1.66. The firm’s 50-day moving average price is $16.91 and its 200-day moving average price is $16.27. Energy Transfer LP has a 52-week low of $13.11 and a 52-week high of $19.71.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data 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 company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 earnings per share. As a group, analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Bank of America assumed coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Royal Bank of Canada raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company 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 report on Wednesday, September 18th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently 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.