NFC Investments LLC Purchases 2,130 Shares of Energy Transfer LP (NYSE:ET)

NFC Investments LLC raised its position in Energy Transfer LP (NYSE:ET) by 3.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,000 shares of the pipeline company’s stock after buying an additional 2,130 shares during the quarter. Energy Transfer comprises about 0.3% of NFC Investments LLC’s holdings, making the stock its 26th largest position. NFC Investments LLC’s holdings in Energy Transfer were worth $915,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ET. Integrated Wealth Concepts LLC raised its stake in shares of Energy Transfer by 15.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 144,200 shares of the pipeline company’s stock valued at $2,314,000 after purchasing an additional 19,669 shares during the period. Harmony Asset Management LLC raised its stake in shares of Energy Transfer by 10.9% during the 3rd quarter. Harmony Asset Management LLC now owns 19,697 shares of the pipeline company’s stock valued at $316,000 after purchasing an additional 1,942 shares during the period. Hilltop Holdings Inc. raised its stake in shares of Energy Transfer by 340.4% during the 3rd quarter. Hilltop Holdings Inc. now owns 64,432 shares of the pipeline company’s stock valued at $1,034,000 after purchasing an additional 49,802 shares during the period. Chevy Chase Trust Holdings LLC raised its stake in shares of Energy Transfer by 2.9% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 52,166 shares of the pipeline company’s stock valued at $837,000 after purchasing an additional 1,486 shares during the period. Finally, Clear Street Derivatives LLC bought a new stake in shares of Energy Transfer during the 3rd quarter valued at $2,565,000. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Down 2.0 %

Shares of NYSE:ET traded down $0.38 during trading on Tuesday, hitting $19.04. The stock had a trading volume of 5,889,761 shares, compared to its average volume of 13,677,731. The firm’s fifty day moving average is $16.99 and its 200 day moving average is $16.30. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 12 month low of $13.11 and a 12 month high of $20.02. The company has a market capitalization of $65.19 billion, a PE ratio of 14.28, a PEG ratio of 0.64 and a beta of 1.70.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion for 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 for the quarter was up .2% on a year-over-year basis. During the same period last year, the business posted $0.31 EPS. Analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders 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 dividend yield of 6.78%. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Analysts Set New Price Targets

ET has been the topic of a number of research analyst reports. Royal Bank of Canada upped their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. UBS Group upped 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. Finally, Bank of America started coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $20.00.

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.