Pathstone Holdings LLC Has $12.78 Million Stock Position in Energy Transfer LP (NYSE:ET)

Pathstone Holdings LLC trimmed its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 4.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 796,447 shares of the pipeline company's stock after selling 33,922 shares during the quarter. Pathstone Holdings LLC's holdings in Energy Transfer were worth $12,783,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Princeton Global Asset Management LLC lifted its position in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company's stock worth $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. lifted its position in Energy Transfer by 2,138.5% in the third 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. LRI Investments LLC acquired a new stake in Energy Transfer in the first quarter worth approximately $29,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer during the 2nd quarter valued at $33,000. Finally, Sugarloaf Wealth Management LLC lifted its position in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company's stock valued at $40,000 after acquiring an additional 750 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Trading Up 1.8 %

NYSE ET opened at $18.29 on Thursday. Energy Transfer LP has a 1-year low of $13.11 and a 1-year high of $18.37. 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 company has a market capitalization of $62.62 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 0.55 and a beta of 1.66. The firm's fifty day simple moving average is $16.55 and its 200-day simple moving average is $16.14.

Energy Transfer (NYSE:ET - Get Free Report) last posted 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. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the prior year, the business posted $0.31 earnings per share. Energy Transfer's revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.34 earnings per share 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 paid a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.05%. The ex-dividend date was Friday, November 8th. Energy Transfer's dividend payout ratio (DPR) is presently 94.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ET shares. UBS Group increased their price objective on 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 increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Finally, Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $20.00.

Insider Transactions at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now directly owns 591,211 shares of the company's stock, valued at $9,270,188.48. This represents a 3.50 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.28% of the stock is currently owned by company insiders.

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.