Barrett & Company Inc. Acquires 1,064 Shares of Energy Transfer LP (NYSE:ET)

Barrett & Company Inc. lifted its holdings in Energy Transfer LP (NYSE:ET) by 11.0% in the third quarter, HoldingsChannel reports. The fund owned 10,770 shares of the pipeline company’s stock after buying an additional 1,064 shares during the period. Barrett & Company Inc.’s holdings in Energy Transfer were worth $173,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Welch Group LLC bought a new stake in shares of Energy Transfer in the 3rd quarter valued at about $457,000. Insight Folios Inc increased its stake in Energy Transfer by 4.3% in the 3rd quarter. Insight Folios Inc now owns 542,364 shares of the pipeline company’s stock worth $8,705,000 after purchasing an additional 22,553 shares during the period. Covenant Partners LLC bought a new stake in Energy Transfer in the third quarter valued at approximately $239,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Energy Transfer by 3.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 718,823 shares of the pipeline company’s stock valued at $11,537,000 after purchasing an additional 22,053 shares during the period. Finally, Pathway Financial Advisers LLC grew its holdings in shares of Energy Transfer by 1,837.4% in the third quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company’s stock worth $21,489,000 after purchasing an additional 1,269,778 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Thomas E. Long bought 20,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares in the company, 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. In the last 90 days, insiders have purchased 3,040,000 shares of company stock worth $47,667,200. Company insiders own 3.28% of the company’s stock.

Energy Transfer Stock Down 0.8 %

Shares of NYSE ET traded down $0.13 during midday trading on Monday, hitting $16.32. The stock had a trading volume of 2,470,340 shares, compared to its average volume of 12,991,697. The business’s 50 day moving average is $16.16 and its 200-day moving average is $15.97. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a 52 week low of $12.90 and a 52 week high of $16.64. The company has a market cap of $55.00 billion, a P/E ratio of 15.09, a PEG ratio of 0.49 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. During the same period in the previous year, the company earned $0.25 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, analysts predict that Energy Transfer LP will post 1.35 EPS for the current year.

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.