MAI Capital Management Boosts Position in Energy Transfer LP (NYSE:ET)

MAI Capital Management lifted its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 5.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 698,113 shares of the pipeline company's stock after purchasing an additional 39,029 shares during the quarter. MAI Capital Management's holdings in Energy Transfer were worth $11,205,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Princeton Global Asset Management LLC boosted its holdings in shares of Energy Transfer by 65.0% in the 3rd 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. grew its holdings in Energy Transfer by 2,138.5% during 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 last quarter. LRI Investments LLC purchased a new position in shares of Energy Transfer during the first quarter valued at approximately $29,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer in the second quarter worth approximately $33,000. Finally, Sugarloaf Wealth Management LLC lifted its stake 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 worth $40,000 after acquiring an additional 750 shares during the last quarter. Institutional investors own 38.22% of the company's stock.

Energy Transfer Stock Up 2.2 %

NYSE:ET traded up $0.38 during midday trading on Tuesday, reaching $17.96. 22,207,961 shares of the stock traded hands, compared to its average volume of 13,415,397. The business has a 50-day moving average of $16.45 and a two-hundred day moving average of $16.11. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. Energy Transfer LP has a 12-month low of $13.11 and a 12-month high of $18.08. The stock has a market capitalization of $61.49 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 0.53 and a beta of 1.66.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the prior year, the business posted $0.31 EPS. The business's revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts forecast that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.3225 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.18%. Energy Transfer's payout ratio is 94.85%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ET shares. Royal Bank of Canada increased their target price 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 research note on Thursday, October 17th. They issued a "buy" rating and a $20.00 price target on the stock. Finally, UBS Group boosted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $20.00.

Insider Activity

In related news, EVP Gregory G. Mcilwain acquired 20,000 shares of the company's stock in a transaction dated 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 acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.28% of the company's stock.

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.