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Energy Transfer LP (NYSE:ET) is FFG Partners LLC's Largest Position

Energy Transfer logo with Oils/Energy background

FFG Partners LLC lifted its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,636,626 shares of the pipeline company's stock after buying an additional 52,302 shares during the quarter. Energy Transfer comprises approximately 9.1% of FFG Partners LLC's investment portfolio, making the stock its largest holding. FFG Partners LLC's holdings in Energy Transfer were worth $26,268,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Princeton Global Asset Management LLC grew its stake 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 valued at $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. grew its position in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock valued at $28,000 after purchasing an additional 1,668 shares during the period. HWG Holdings LP bought a new stake in Energy Transfer during the 2nd quarter valued at $33,000. Sugarloaf Wealth Management LLC raised its holdings in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company's stock worth $40,000 after buying an additional 750 shares during the last quarter. Finally, Continuum Advisory LLC lifted its stake in shares of Energy Transfer by 44.8% in the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company's stock valued at $40,000 after buying an additional 729 shares in the last quarter. Institutional investors own 38.22% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 target price on the stock. UBS Group raised their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada upped their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $20.38.

Get Our Latest Stock Report on Energy Transfer

Energy Transfer Stock Performance

NYSE:ET traded down $0.16 during trading on Friday, reaching $19.05. The company's stock had a trading volume of 10,795,977 shares, compared to its average volume of 13,666,156. The firm has a market cap of $65.23 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. Energy Transfer LP has a 12 month low of $13.54 and a 12 month high of $20.02. 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 firm has a 50 day moving average of $17.52 and a 200-day moving average of $16.50.

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, meeting 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%. The firm's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. Research analysts expect that Energy Transfer LP will post 1.32 EPS for the current fiscal 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 paid 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 6.77%. Energy Transfer's payout ratio is 94.85%.

About Energy Transfer

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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