Haverford Trust Co Increases Stock Holdings in Energy Transfer LP (NYSE:ET)

Haverford Trust Co increased its holdings in Energy Transfer LP (NYSE:ET) by 0.7% in the third quarter, HoldingsChannel.com reports. The fund owned 102,176 shares of the pipeline company’s stock after acquiring an additional 675 shares during the period. Haverford Trust Co’s holdings in Energy Transfer were worth $1,640,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Berkley W R Corp lifted its stake in Energy Transfer by 11.6% in the first quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock worth $83,912,000 after acquiring an additional 555,445 shares during the period. GFS Advisors LLC lifted its stake in Energy Transfer by 19,380.5% in the third quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company’s stock worth $963,000 after acquiring an additional 59,692 shares during the period. Cetera Investment Advisers raised its holdings in Energy Transfer by 491.3% in the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock worth $20,297,000 after purchasing an additional 1,072,144 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Energy Transfer by 1,491.0% in the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after purchasing an additional 3,913,266 shares in the last quarter. Finally, Chickasaw Capital Management LLC raised its holdings in Energy Transfer by 3.1% in the third quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock worth $246,376,000 after purchasing an additional 466,565 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Insiders Place Their Bets

In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 3.28% of the stock is owned by insiders.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $17.09 on Thursday. Energy Transfer LP has a 1-year low of $13.11 and a 1-year high of $17.71. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.92. The business has a fifty day moving average price of $16.35 and a 200-day moving average price of $16.07. The company has a market capitalization of $58.51 billion, a PE ratio of 12.57, a PEG ratio of 0.52 and a beta of 1.66.

Energy Transfer (NYSE:ET) last issued 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. 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 the consensus estimate of $21.59 billion. During the same period last year, the company earned $0.31 earnings per share. The company’s revenue was up .2% on a year-over-year basis. As a group, equities analysts expect that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be given a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 7.55%. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ET shares. Bank of America started coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. Royal Bank of Canada increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, UBS Group increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average 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.