Energy Transfer LP (NYSE:ET) Stake Raised by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC increased its holdings in Energy Transfer LP (NYSE:ET) by 1,837.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,338,885 shares of the pipeline company’s stock after buying an additional 1,269,778 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Energy Transfer were worth $21,489,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Global Assets Advisory LLC bought a new position in shares of Energy Transfer in the first quarter worth $204,000. Brookstone Capital Management lifted its holdings in Energy Transfer by 3.2% in the first quarter. Brookstone Capital Management now owns 190,124 shares of the pipeline company’s stock worth $2,991,000 after purchasing an additional 5,894 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Energy Transfer by 2.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 549,971 shares of the pipeline company’s stock valued at $8,651,000 after buying an additional 15,097 shares in the last quarter. Toth Financial Advisory Corp increased its stake in Energy Transfer by 57.8% during the 1st quarter. Toth Financial Advisory Corp now owns 5,155 shares of the pipeline company’s stock valued at $81,000 after buying an additional 1,888 shares during the period. Finally, Romano Brothers AND Company raised its position in shares of Energy Transfer by 46.7% during the 1st quarter. Romano Brothers AND Company now owns 32,482 shares of the pipeline company’s stock worth $511,000 after buying an additional 10,343 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares of the company’s stock, 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 SEC, which is available at the SEC website. In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The stock was acquired 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 $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Price Performance

Shares of NYSE:ET traded up $0.05 on Friday, reaching $16.45. 10,546,947 shares of the company traded hands, compared to its average volume of 13,042,334. The stock has a market capitalization of $55.44 billion, a PE ratio of 15.10, a P/E/G ratio of 0.50 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The company’s 50 day moving average is $16.16 and its 200-day moving average is $15.96. Energy Transfer LP has a fifty-two week low of $12.90 and a fifty-two week high of $16.64.

Energy Transfer (NYSE:ET) last announced its 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 for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. As a group, analysts anticipate that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on ET. UBS Group increased their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Royal Bank of Canada increased their price target 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 research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $20.00.

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.