MAI Capital Management Acquires 39,029 Shares of Energy Transfer LP (NYSE:ET)

MAI Capital Management lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 698,113 shares of the pipeline company’s stock after purchasing an additional 39,029 shares during the period. MAI Capital Management’s holdings in Energy Transfer were worth $11,205,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in ET. Empowered Funds LLC boosted its stake in shares of Energy Transfer by 15.0% during the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after purchasing an additional 45,172 shares during the period. Berkley W R Corp boosted its position in Energy Transfer by 11.6% during the 1st quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock valued at $83,912,000 after buying an additional 555,445 shares during the period. GFS Advisors LLC grew its holdings in Energy Transfer by 19,380.5% in the 3rd 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 last quarter. Cetera Investment Advisers increased its position in shares of Energy Transfer by 491.3% in the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock valued at $20,297,000 after acquiring an additional 1,072,144 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of 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 acquiring an additional 3,913,266 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 1.6 %

Shares of Energy Transfer stock opened at $17.58 on Tuesday. 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 company has a 50-day moving average of $16.45 and a 200 day moving average of $16.11. Energy Transfer LP has a 1 year low of $13.11 and a 1 year high of $17.71. The firm has a market cap of $60.18 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 0.53 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. The firm had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s revenue was up .2% on a year-over-year basis. During the same period last year, the company earned $0.31 earnings per share. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.34%. The ex-dividend date is Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ET. UBS Group raised their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Bank of America assumed coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $20.00.

Insider Activity

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 3.50 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.