Energy Transfer LP (NYSE:ET) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 101,738 shares of the pipeline company’s stock after purchasing an additional 1,248 shares during the quarter. Tidal Investments LLC’s holdings in Energy Transfer were worth $1,633,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Fortis Capital Management LLC boosted its holdings in Energy Transfer by 2.0% during the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock valued at $513,000 after acquiring an additional 634 shares during the period. Princeton Global Asset Management LLC boosted its holdings in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the period. Haverford Trust Co boosted its holdings in Energy Transfer by 0.7% during the 3rd quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock valued at $1,640,000 after acquiring an additional 675 shares during the period. Veracity Capital LLC boosted its holdings in Energy Transfer by 2.0% during the 3rd quarter. Veracity Capital LLC now owns 34,255 shares of the pipeline company’s stock valued at $550,000 after acquiring an additional 680 shares during the period. Finally, Rockwood Wealth Management LLC boosted its holdings in Energy Transfer by 0.5% during the 2nd quarter. Rockwood Wealth Management LLC now owns 128,122 shares of the pipeline company’s stock valued at $2,078,000 after acquiring an additional 700 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Shares of ET opened at $18.63 on Wednesday. The stock has a 50-day simple moving average of $17.68 and a 200-day simple moving average of $16.59. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The stock has a market capitalization of $63.79 billion, a PE ratio of 13.70, a PEG ratio of 0.63 and a beta of 1.70. Energy Transfer LP has a 1 year low of $13.60 and a 1 year high of $20.02.

Energy Transfer (NYSE:ET) last issued 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. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter last year, the company earned $0.31 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts predict that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently announced 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. This represents a $1.29 annualized dividend and a dividend yield of 6.92%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Bank of America assumed coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. UBS Group raised their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada lifted their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $20.38.

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.