Lindbrook Capital LLC Buys 19,547 Shares of Energy Transfer LP (NYSE:ET)

Lindbrook Capital LLC lifted its position in Energy Transfer LP (NYSE:ET) by 15.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 143,950 shares of the pipeline company’s stock after purchasing an additional 19,547 shares during the period. Lindbrook Capital LLC’s holdings in Energy Transfer were worth $2,310,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. boosted its position in Energy Transfer by 12.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after buying an additional 4,141,715 shares during the period. Natixis raised its stake in shares of Energy Transfer by 20.0% during the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after acquiring an additional 2,999,300 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of Energy Transfer by 1.1% during the second quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock worth $261,263,000 after purchasing an additional 171,720 shares during the period. Chickasaw Capital Management LLC grew its stake in shares of 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 during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in Energy Transfer by 7.9% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,293,510 shares of the pipeline company’s stock valued at $117,061,000 after purchasing an additional 536,047 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of ET stock opened at $17.29 on Friday. The business’s fifty day moving average is $16.30 and its 200 day moving average is $16.05. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The stock has a market cap of $59.15 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 0.53 and a beta of 1.66. Energy Transfer LP has a twelve month low of $13.01 and a twelve month high of $17.71.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.64%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 earnings per share. Research analysts expect that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be paid a $0.3225 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.46%. Energy Transfer’s dividend payout ratio is currently 94.12%.

Insider Activity

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. 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. Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. Finally, Royal Bank of Canada boosted their price objective 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. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price 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.