Energy Transfer LP (NYSE:ET) Shares Bought by Philosophy Capital Management LLC

Philosophy Capital Management LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,759,085 shares of the pipeline company’s stock after buying an additional 24,768 shares during the quarter. Energy Transfer accounts for approximately 3.5% of Philosophy Capital Management LLC’s holdings, making the stock its 5th largest holding. Philosophy Capital Management LLC owned 0.08% of Energy Transfer worth $44,283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC increased its position in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. boosted its stake in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. HWG Holdings LP bought a new position in Energy Transfer during the 2nd quarter worth about $33,000. Sugarloaf Wealth Management LLC lifted 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. Finally, Hudson Edge Investment Partners Inc. acquired a new stake in Energy Transfer in the 2nd quarter valued at approximately $42,000. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Performance

ET opened at $19.26 on Wednesday. The firm has a market cap of $65.94 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. The business’s fifty day moving average is $17.11 and its 200-day moving average is $16.35. Energy Transfer LP has a 52-week low of $13.11 and a 52-week high of $20.02. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion during 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 quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 EPS. Sell-side analysts expect that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.70%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ET shares. Royal Bank of Canada increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Bank of America began coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Finally, UBS Group boosted their price target 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 equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $20.00.

About Energy Transfer

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.