Tandem Investment Advisors Inc. Lowers Stake in Energy Transfer LP (NYSE:ET)

Tandem Investment Advisors Inc. decreased its holdings in Energy Transfer LP (NYSE:ET) by 20.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,267 shares of the pipeline company’s stock after selling 3,114 shares during the quarter. Tandem Investment Advisors Inc.’s holdings in Energy Transfer were worth $197,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ET. Berkley W R Corp lifted 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 buying an additional 555,445 shares in the last quarter. GFS Advisors LLC raised its position in Energy Transfer by 19,380.5% during the third quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company’s stock worth $963,000 after acquiring an additional 59,692 shares during the period. Cetera Investment Advisers lifted its holdings in Energy Transfer by 491.3% during the first 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 in the last quarter. International Assets Investment Management LLC boosted its holdings in Energy Transfer by 1,491.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after buying an additional 3,913,266 shares during the last quarter. Finally, Chickasaw Capital Management LLC boosted its stake in shares of Energy Transfer by 3.1% in the third quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company’s stock worth $246,376,000 after acquiring an additional 466,565 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ET. Royal Bank of Canada increased their target price 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 assumed 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 on the stock. Finally, UBS Group upped their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Energy Transfer has a consensus rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Stock Down 0.2 %

Shares of NYSE ET opened at $17.39 on Friday. The company has a market capitalization of $59.51 billion, a P/E ratio of 14.61, a P/E/G ratio of 0.50 and a beta of 1.66. 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 company has a 50 day simple moving average of $16.25 and a 200-day simple moving average of $16.03. Energy Transfer LP has a 1 year low of $13.01 and a 1 year high of $17.71.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion for the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, equities research analysts predict that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders 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 yield of 7.42%. The ex-dividend date of this dividend is Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 107.56%.

Insider Buying and Selling at Energy Transfer

In other news, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired 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 directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 3,040,000 shares of company stock worth $47,667,200 over the last three months. Insiders own 3.28% of the company’s stock.

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.