Cerity Partners LLC Grows Position in Energy Transfer LP (NYSE:ET)

Cerity Partners LLC raised its position in Energy Transfer LP (NYSE:ET) by 29.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,531 shares of the pipeline company’s stock after purchasing an additional 54,611 shares during the quarter. Cerity Partners LLC’s holdings in Energy Transfer were worth $3,893,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ET. Tidal Investments LLC raised its holdings in shares of Energy Transfer by 12.9% during the 1st quarter. Tidal Investments LLC now owns 86,196 shares of the pipeline company’s stock valued at $1,342,000 after buying an additional 9,849 shares during the period. LRI Investments LLC purchased a new stake in shares of Energy Transfer during the 1st quarter valued at about $29,000. Burney Co. raised its holdings in shares of Energy Transfer by 288.1% during the 1st quarter. Burney Co. now owns 63,046 shares of the pipeline company’s stock valued at $992,000 after buying an additional 46,800 shares during the period. Cetera Investment Advisers raised its holdings in shares of 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 buying an additional 1,072,144 shares during the period. Finally, Cetera Advisors LLC raised its holdings in shares of Energy Transfer by 75.6% during the 1st quarter. Cetera Advisors LLC now owns 493,991 shares of the pipeline company’s stock valued at $7,770,000 after buying an additional 212,719 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on ET shares. Royal Bank of Canada upped their target price on 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 started coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, UBS Group upped their target price 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, the company presently has an average rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Price Performance

Shares of NYSE ET opened at $19.86 on Friday. Energy Transfer LP has a twelve month low of $13.11 and a twelve month high of $20.02. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $68.00 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 0.62 and a beta of 1.66. The business has a 50 day simple moving average of $16.99 and a 200-day simple moving average of $16.30.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.31 EPS. As a group, equities research analysts expect that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.50%. Energy Transfer’s payout ratio is currently 94.85%.

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.