Wipfli Financial Advisors LLC Makes New Investment in Energy Transfer LP (NYSE:ET)

Wipfli Financial Advisors LLC purchased a new position in shares of Energy Transfer LP (NYSE:ETGet Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,657 shares of the pipeline company’s stock, valued at approximately $84,000.

Several other institutional investors also recently added to or reduced their stakes in the company. Bard Financial Services Inc. increased its position in Energy Transfer by 108.3% during the third quarter. Bard Financial Services Inc. now owns 31,250 shares of the pipeline company’s stock worth $345,000 after buying an additional 16,250 shares during the period. Parsons Capital Management Inc. RI grew its stake in shares of Energy Transfer by 161.1% in the 3rd quarter. Parsons Capital Management Inc. RI now owns 356,571 shares of the pipeline company’s stock valued at $3,933,000 after purchasing an additional 220,000 shares during the last quarter. Safeguard Investment Advisory Group LLC purchased a new position in shares of Energy Transfer in the 3rd quarter valued at approximately $110,000. SCP Investment LP grew its stake in shares of Energy Transfer by 16.1% in the 3rd quarter. SCP Investment LP now owns 28,800 shares of the pipeline company’s stock valued at $318,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Energy Transfer by 5.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 358,889 shares of the pipeline company’s stock valued at $3,959,000 after purchasing an additional 18,632 shares during the last quarter. Institutional investors and hedge funds own 37.81% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Bradford D. Whitehurst purchased 5,000 shares of the company’s stock in a transaction on Tuesday, December 6th. The stock was bought at an average cost of $12.00 per share, for a total transaction of $60,000.00. Following the completion of the purchase, the chief financial officer now directly owns 1,048,305 shares of the company’s stock, valued at approximately $12,579,660. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Bradford D. Whitehurst purchased 5,000 shares of the company’s stock in a transaction on Tuesday, December 6th. The stock was bought at an average cost of $12.00 per share, for a total transaction of $60,000.00. Following the completion of the purchase, the chief financial officer now directly owns 1,048,305 shares of the company’s stock, valued at approximately $12,579,660. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard D. Brannon bought 80,000 shares of the firm’s stock in a transaction dated Thursday, December 15th. The stock was bought at an average cost of $11.55 per share, with a total value of $924,000.00. Following the transaction, the director now directly owns 580,000 shares of the company’s stock, valued at $6,699,000. The disclosure for this purchase can be found here. Insiders bought 740,000 shares of company stock worth $9,082,900 over the last three months. 3.28% of the stock is owned by insiders.

Energy Transfer Stock Performance

Energy Transfer stock opened at $12.64 on Friday. The firm has a market capitalization of $39.04 billion, a P/E ratio of 9.43 and a beta of 1.75. The stock has a fifty day moving average price of $12.06 and a 200 day moving average price of $11.56. Energy Transfer LP has a 52 week low of $8.75 and a 52 week high of $12.95. The company has a current ratio of 1.08, a quick ratio of 0.86 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ETGet Rating) last released its earnings results on Tuesday, November 1st. The pipeline company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $22.94 billion during the quarter, compared to analyst estimates of $27.57 billion. Energy Transfer had a return on equity of 13.01% and a net margin of 5.02%. Equities research analysts anticipate that Energy Transfer LP will post 1.39 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 21st. Shareholders of record on Friday, November 4th were paid a dividend of $0.265 per share. The ex-dividend date was Thursday, November 3rd. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.23. This represents a $1.06 annualized dividend and a yield of 8.39%. Energy Transfer’s dividend payout ratio is currently 79.11%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup assumed coverage on Energy Transfer in a research note on Thursday, December 8th. They issued a “buy” rating and a $16.00 target price on the stock. Mizuho lifted their price target on Energy Transfer from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, November 4th. Finally, Morgan Stanley lifted their price target on Energy Transfer from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Monday. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $15.83.

Energy Transfer Company Profile

(Get Rating)

Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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