Continuum Advisory LLC Grows Stock Holdings in Energy Transfer LP (NYSE:ET)

Continuum Advisory LLC lifted its holdings in Energy Transfer LP (NYSE:ET) by 44.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,357 shares of the pipeline company’s stock after acquiring an additional 729 shares during the quarter. Continuum Advisory LLC’s holdings in Energy Transfer were worth $40,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MML Investors Services LLC raised its stake in shares of Energy Transfer by 2.4% during the 3rd quarter. MML Investors Services LLC now owns 109,984 shares of the pipeline company’s stock valued at $1,765,000 after buying an additional 2,620 shares during the last quarter. Zacks Investment Management acquired a new stake in Energy Transfer during the third quarter worth about $181,000. National Bank of Canada FI raised its position in Energy Transfer by 56.8% during the third quarter. National Bank of Canada FI now owns 45,381 shares of the pipeline company’s stock valued at $728,000 after acquiring an additional 16,439 shares in the last quarter. Brookfield Corp ON raised its position in Energy Transfer by 2.8% during the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock valued at $210,896,000 after acquiring an additional 352,625 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its holdings in Energy Transfer by 50.7% in the third quarter. EP Wealth Advisors LLC now owns 61,493 shares of the pipeline company’s stock valued at $987,000 after acquiring an additional 20,699 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Energy Transfer stock opened at $19.21 on Friday. The stock has a market cap of $65.77 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The firm has a 50 day simple moving average of $17.47 and a 200-day simple moving average of $16.48. Energy Transfer LP has a 1-year low of $13.22 and a 1-year high of $20.02.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share 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 net margin of 5.90% and a return on equity of 12.38%. Energy Transfer’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. On average, analysts expect that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders 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 annualized dividend and a dividend yield of 6.72%. Energy Transfer’s dividend payout ratio is currently 94.85%.

Analyst Ratings Changes

ET has been the subject of several recent research reports. Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Royal Bank of Canada lifted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday. Finally, UBS Group boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.38.

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.