Farther Finance Advisors LLC Acquires 31,854 Shares of Energy Transfer LP (NYSE:ET)

Farther Finance Advisors LLC increased its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 1,884.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,544 shares of the pipeline company's stock after purchasing an additional 31,854 shares during the quarter. Farther Finance Advisors LLC's holdings in Energy Transfer were worth $538,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Energy Transfer by 12.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company's stock valued at $594,769,000 after buying an additional 4,141,715 shares in the last quarter. International Assets Investment Management LLC raised its position in Energy Transfer by 1,491.0% during the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company's stock valued at $67,020,000 after purchasing an additional 3,913,266 shares in the last quarter. Natixis boosted its holdings in shares of Energy Transfer by 20.0% in the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company's stock worth $283,463,000 after purchasing an additional 2,999,300 shares in the last quarter. Payden & Rygel Investment Group bought a new position in shares of Energy Transfer during the 1st quarter valued at $20,164,000. Finally, Pathway Financial Advisers LLC increased its holdings in shares of Energy Transfer by 1,837.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company's stock worth $21,489,000 after buying an additional 1,269,778 shares during the period. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Down 0.2 %

NYSE ET traded down $0.03 during trading hours on Thursday, reaching $17.39. 27,824,099 shares of the company's stock traded hands, compared to its average volume of 13,212,654. The firm has a market cap of $59.51 billion, a PE ratio of 14.65, a PEG ratio of 0.50 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. Energy Transfer LP has a 52-week low of $13.01 and a 52-week high of $17.71. The firm has a 50-day simple moving average of $16.25 and a 200 day simple moving average of $16.03.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.32. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business had revenue of $20.77 billion during the quarter, compared to analysts' expectations of $21.59 billion. During the same quarter in the previous year, the business earned $0.31 earnings per share. The firm's quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts anticipate that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company 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 of this dividend is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 7.42%. Energy Transfer's payout ratio is currently 107.56%.

Insider Activity at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain acquired 20,000 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The shares were bought 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 approximately $9,270,188.48. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Kelcy L. Warren bought 3,000,000 shares of the business's stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gregory G. Mcilwain bought 20,000 shares of the firm's stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ET shares. Royal Bank of Canada lifted their price target on 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 assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a "buy" rating and a $20.00 price target for the company. Finally, UBS Group raised their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus 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.