Empowered Funds LLC Grows Stock Position in Energy Transfer LP (NYSE:ET)

Empowered Funds LLC lifted its stake in Energy Transfer LP (NYSE:ET - Free Report) by 15.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 346,825 shares of the pipeline company's stock after purchasing an additional 45,172 shares during the quarter. Empowered Funds LLC's holdings in Energy Transfer were worth $5,567,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Black Swift Group LLC raised its position in Energy Transfer by 88.3% during the 3rd quarter. Black Swift Group LLC now owns 35,714 shares of the pipeline company's stock worth $573,000 after buying an additional 16,750 shares during the last quarter. Schulhoff & Co. Inc. raised its position in Energy Transfer by 28.1% during the 3rd quarter. Schulhoff & Co. Inc. now owns 25,000 shares of the pipeline company's stock worth $401,000 after buying an additional 5,478 shares during the last quarter. Curi RMB Capital LLC raised its position in Energy Transfer by 8.7% during the 3rd quarter. Curi RMB Capital LLC now owns 44,930 shares of the pipeline company's stock worth $721,000 after buying an additional 3,608 shares during the last quarter. Summit Asset Management LLC acquired a new stake in shares of Energy Transfer during the 3rd quarter worth approximately $243,000. Finally, Fortis Capital Management LLC grew its stake in shares of Energy Transfer by 2.0% during the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company's stock worth $513,000 after purchasing an additional 634 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

ET traded up $0.29 on Monday, hitting $17.58. 17,167,947 shares of the company's stock were exchanged, compared to its average volume of 13,375,769. Energy Transfer LP has a fifty-two week low of $13.11 and a fifty-two week high of $17.71. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.40. The firm has a 50-day moving average price of $16.42 and a 200-day moving average price of $16.10. The stock has a market cap of $60.19 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 0.53 and a beta of 1.66.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS 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 in the previous year, the firm earned $0.31 EPS. The company's quarterly revenue was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be issued a $0.3225 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 7.34%. Energy Transfer's dividend payout ratio (DPR) is currently 94.85%.

Insiders Place Their Bets

In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the executive vice president now directly owns 591,211 shares of the company's stock, valued at $9,270,188.48. This trade represents a 3.50 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.28% of the company's stock.

Wall Street Analyst Weigh In

ET has been the topic of a number of analyst reports. Royal Bank of Canada raised 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. UBS Group raised their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Finally, 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 on the stock. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Energy Transfer presently has a consensus rating of "Buy" and an average target price 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.