Energy Transfer LP (NYSE:ET) Stock Position Lifted by Cerity Partners LLC

Cerity Partners LLC increased its position in Energy Transfer LP (NYSE:ET) by 29.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 242,531 shares of the pipeline company’s stock after acquiring an additional 54,611 shares during the period. Cerity Partners LLC’s holdings in Energy Transfer were worth $3,893,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ET. Princeton Global Asset Management LLC lifted its holdings in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the period. Assetmark Inc. lifted its holdings in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares during the period. LRI Investments LLC acquired a new stake in shares of Energy Transfer in the first quarter valued at $29,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer during the second quarter valued at $33,000. Finally, Sugarloaf Wealth Management LLC lifted its holdings in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

ET has been the subject of several analyst reports. UBS Group upped their target price on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report 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 price target on the stock. Finally, Royal Bank of Canada upped their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $20.00.

Energy Transfer Stock Performance

Shares of ET stock opened at $19.86 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer LP has a fifty-two week low of $13.11 and a fifty-two week high of $20.02. The stock’s 50-day moving average is $16.99 and its two-hundred day moving average is $16.30. The firm has a market cap of $68.00 billion, a P/E ratio of 14.60, a PEG ratio of 0.62 and a beta of 1.66.

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 analysts’ consensus estimates of $0.32. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 EPS. Analysts predict that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is 94.85%.

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.