Insigneo Advisory Services LLC Decreases Stock Position in Energy Transfer LP (NYSE:ET)

Insigneo Advisory Services LLC lessened its stake in Energy Transfer LP (NYSE:ET) by 4.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,726 shares of the pipeline company’s stock after selling 1,493 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Energy Transfer were worth $493,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ET. Princeton Global Asset Management LLC boosted its holdings in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. boosted its holdings in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares during the period. HWG Holdings LP purchased a new position in Energy Transfer in the 2nd quarter worth approximately $33,000. Sugarloaf Wealth Management LLC boosted its holdings in Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares during the period. Finally, EdgeRock Capital LLC purchased a new position in shares of Energy Transfer during the 2nd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $19.26 on Monday. The stock has a market capitalization of $65.94 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.62 and a beta of 1.70. The firm’s 50-day moving average price is $17.29 and its two-hundred day moving average price is $16.42. Energy Transfer LP has a 52-week low of $13.11 and a 52-week high of $20.02. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the previous year, the firm posted $0.31 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.70%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Analysts Set New Price Targets

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

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.