Blue Trust Inc. Raises Stake in Energy Transfer LP (NYSE:ET)

Blue Trust Inc. grew its stake in shares of Energy Transfer LP (NYSE:ET) by 173.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 11,783 shares of the pipeline company’s stock after acquiring an additional 7,468 shares during the period. Blue Trust Inc.’s holdings in Energy Transfer were worth $191,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. LRI Investments LLC acquired a new position in shares of Energy Transfer during the 1st quarter worth $29,000. HWG Holdings LP acquired a new position in shares of Energy Transfer during the 2nd quarter worth $33,000. Sugarloaf Wealth Management LLC raised its stake in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares during the last quarter. EdgeRock Capital LLC acquired a new position in shares of Energy Transfer during the 2nd quarter worth $42,000. Finally, Hudson Edge Investment Partners Inc. acquired a new position in shares of Energy Transfer during the 2nd quarter worth $42,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ET shares. Royal Bank of Canada boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Finally, UBS Group boosted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $20.00.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of the stock in a transaction on Monday, August 12th. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Thomas E. Long bought 20,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $15.68 per share, with a total value of $313,600.00. Following the acquisition, 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 disclosure for this purchase can be found here. Insiders acquired 3,040,000 shares of company stock worth $47,667,200 in the last 90 days. 3.28% of the stock is owned by company insiders.

Energy Transfer Stock Up 0.3 %

ET opened at $16.45 on Friday. 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 stock has a market capitalization of $56.30 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 0.49 and a beta of 1.66. The business has a 50-day moving average of $16.16 and a two-hundred day moving average of $15.96. Energy Transfer LP has a 12 month low of $12.90 and a 12 month high of $16.64.

Energy Transfer (NYSE:ET) last posted its quarterly 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 business had revenue of $20.73 billion during 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 firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. On average, research analysts expect that Energy Transfer LP will post 1.35 earnings per share for the current year.

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.