Curi RMB Capital LLC Increases Holdings in Energy Transfer LP (NYSE:ET)

Curi RMB Capital LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 8.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 44,930 shares of the pipeline company’s stock after purchasing an additional 3,608 shares during the period. Curi RMB Capital LLC’s holdings in Energy Transfer were worth $721,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Summit Asset Management LLC purchased a new position in shares of Energy Transfer during the 3rd quarter valued at $243,000. 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 valued at $513,000 after purchasing an additional 634 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Energy Transfer by 7.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 186,286 shares of the pipeline company’s stock valued at $2,990,000 after purchasing an additional 12,284 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in shares of Energy Transfer by 35.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 961,030 shares of the pipeline company’s stock valued at $15,425,000 after purchasing an additional 250,771 shares in the last quarter. Finally, Chase Investment Counsel Corp grew its position in Energy Transfer by 61.2% in the third quarter. Chase Investment Counsel Corp now owns 82,285 shares of the pipeline company’s stock worth $1,320,000 after acquiring an additional 31,246 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Insider Activity

In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. This represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ET. Bank of America began 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. UBS Group upped their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada upped their target price 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. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $20.00.

Energy Transfer Stock Performance

Energy Transfer stock opened at $17.29 on Friday. The company has a market capitalization of $59.18 billion, a PE ratio of 12.71, a P/E/G ratio of 0.52 and a beta of 1.66. The firm has a fifty day simple moving average of $16.39 and a two-hundred day simple moving average of $16.08. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a twelve month low of $13.11 and a twelve month high of $17.71.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The firm 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 12.38%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 earnings per share. Research analysts expect that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 7.46%. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

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.