Main Street Financial Solutions LLC Has $351,000 Holdings in Energy Transfer LP (NYSE:ET)

Main Street Financial Solutions LLC lessened its position in shares of Energy Transfer LP (NYSE:ET) by 12.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,838 shares of the pipeline company’s stock after selling 3,181 shares during the period. Main Street Financial Solutions LLC’s holdings in Energy Transfer were worth $351,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Princeton Global Asset Management LLC grew its holdings in 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 valued at $26,000 after buying an additional 650 shares in the last quarter. Assetmark Inc. boosted its position in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares during the period. LRI Investments LLC acquired a new position in shares of Energy Transfer in the first quarter valued at about $29,000. HWG Holdings LP acquired a new stake in Energy Transfer in the 2nd quarter worth about $33,000. Finally, Sugarloaf Wealth Management LLC raised its stake in Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The trade was a 3.50 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.28% of the company’s stock.

Energy Transfer Price Performance

Shares of ET stock opened at $17.15 on Friday. Energy Transfer LP has a twelve month low of $13.11 and a twelve month high of $17.71. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The business has a fifty day simple moving average of $16.37 and a 200 day simple moving average of $16.08. The company has a market cap of $58.70 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.52 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the prior year, the business earned $0.31 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, sell-side analysts forecast that Energy Transfer LP will post 1.34 EPS 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. This represents a $1.29 annualized dividend and a dividend yield of 7.52%. The ex-dividend date is Friday, November 8th. Energy Transfer’s payout ratio is currently 94.85%.

Analyst Upgrades and Downgrades

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

Energy Transfer 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.