Captrust Financial Advisors Has $8.07 Million Stock Position in Energy Transfer LP (NYSE:ET)

Captrust Financial Advisors lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 6.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 502,486 shares of the pipeline company’s stock after purchasing an additional 29,076 shares during the period. Captrust Financial Advisors’ holdings in Energy Transfer were worth $8,065,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ET. Fortis Capital Management LLC grew its position in shares of Energy Transfer by 2.0% during the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock worth $513,000 after buying an additional 634 shares during the period. Princeton Global Asset Management LLC raised its position 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 during the last quarter. Veracity Capital LLC boosted its holdings in Energy Transfer by 2.0% during the second quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock worth $545,000 after purchasing an additional 659 shares during the last quarter. Haverford Trust Co raised its holdings in Energy Transfer by 0.7% during the third quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock worth $1,640,000 after acquiring an additional 675 shares in the last quarter. Finally, Morton Capital Management LLC CA increased its holdings in Energy Transfer by 1.6% during the second quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock worth $720,000 after buying an additional 699 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Up 2.3 %

Shares of ET stock opened at $19.86 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 1-year low of $13.11 and a 1-year high of $20.02. The stock has a 50-day moving average of $16.99 and a 200-day moving average of $16.30. The stock has a market cap of $68.00 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.64 and a beta of 1.66.

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

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.50%. Energy Transfer’s payout ratio is currently 94.85%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank of Canada lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Finally, UBS Group boosted 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. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer currently has a consensus rating of “Buy” and a consensus 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.