Inscription Capital LLC Has $3.60 Million Position in Energy Transfer LP (NYSE:ET)

Inscription Capital LLC reduced its holdings in shares of Energy Transfer LP (NYSE:ET) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 224,312 shares of the pipeline company’s stock after selling 6,745 shares during the period. Inscription Capital LLC’s holdings in Energy Transfer were worth $3,600,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Berkley W R Corp boosted its position in shares of Energy Transfer by 11.6% during the 1st quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company’s stock valued at $83,912,000 after acquiring an additional 555,445 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Energy Transfer by 491.3% during the 1st quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock valued at $20,297,000 after purchasing an additional 1,072,144 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Energy Transfer by 2.8% during 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 purchasing an additional 15,097 shares during the last quarter. Chickasaw Capital Management LLC lifted its holdings in Energy Transfer by 3.1% during the 3rd quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock valued at $246,376,000 after purchasing an additional 466,565 shares during the last quarter. Finally, Nicolet Advisory Services LLC lifted its holdings in Energy Transfer by 48.8% during the 1st quarter. Nicolet Advisory Services LLC now owns 17,464 shares of the pipeline company’s stock valued at $275,000 after purchasing an additional 5,730 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Energy Transfer Price Performance

Shares of NYSE ET traded down $0.14 during trading on Monday, reaching $16.31. The company had a trading volume of 1,378,475 shares, compared to its average volume of 12,986,447. Energy Transfer LP has a 52 week low of $12.90 and a 52 week high of $16.64. The stock has a market cap of $54.97 billion, a PE ratio of 15.09, a PEG ratio of 0.49 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The business’s 50 day moving average price is $16.16 and its 200-day moving average price is $15.97.

Energy Transfer (NYSE:ET) last issued 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). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. Analysts expect that Energy Transfer LP will post 1.35 earnings per share for the current year.

Insider Transactions at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. 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 the SEC website. 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, for a total transaction of $47,040,000.00. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. 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 executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 3,040,000 shares of company stock worth $47,667,200 in the last quarter. 3.28% of the stock is owned by company insiders.

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.