Tyche Wealth Partners LLC Cuts Stake in Energy Transfer LP (NYSE:ET)

Tyche Wealth Partners LLC lessened its stake in Energy Transfer LP (NYSE:ET) by 38.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,014 shares of the pipeline company’s stock after selling 10,127 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Energy Transfer were worth $257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ET. Berkley W R Corp grew its holdings 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 in the last quarter. Cetera Investment Advisers grew its holdings 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 purchasing an additional 1,072,144 shares in the last quarter. International Assets Investment Management LLC increased its position 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 during the last quarter. Chickasaw Capital Management LLC raised its position in shares of Energy Transfer by 3.1% during the 3rd quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock valued at $246,376,000 after buying an additional 466,565 shares in the last quarter. Finally, Nicolet Advisory Services LLC lifted its holdings in shares of Energy Transfer by 48.8% in the 1st quarter. Nicolet Advisory Services LLC now owns 17,464 shares of the pipeline company’s stock valued at $275,000 after acquiring an additional 5,730 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Insider Buying and Selling

In other news, CEO Thomas E. Long bought 20,000 shares of the stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the acquisition, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 3,040,000 shares of company stock valued at $47,667,200 over the last quarter. 3.28% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $16.38 on Wednesday. Energy Transfer LP has a 52 week low of $12.90 and a 52 week high of $16.64. The company has a market capitalization of $55.18 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.49 and a beta of 1.66. The stock’s fifty day moving average is $16.17 and its two-hundred day moving average is $15.98. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. As a group, analysts expect that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be paid a $0.3225 dividend. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 117.43%.

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.