Harbour Investments Inc. Acquires 1,066 Shares of Energy Transfer LP (NYSE:ET)

Harbour Investments Inc. increased its stake in Energy Transfer LP (NYSE:ET) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,523 shares of the pipeline company’s stock after acquiring an additional 1,066 shares during the quarter. Harbour Investments Inc.’s holdings in Energy Transfer were worth $1,918,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Apollon Wealth Management LLC increased its stake in Energy Transfer by 5.0% in the third quarter. Apollon Wealth Management LLC now owns 282,705 shares of the pipeline company’s stock valued at $4,537,000 after purchasing an additional 13,590 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its stake in shares of Energy Transfer by 5.6% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 319,141 shares of the pipeline company’s stock valued at $5,122,000 after buying an additional 17,021 shares during the period. Beam Wealth Advisors Inc. increased its position in Energy Transfer by 7.6% in the 3rd quarter. Beam Wealth Advisors Inc. now owns 44,220 shares of the pipeline company’s stock valued at $710,000 after buying an additional 3,137 shares in the last quarter. Proffitt & Goodson Inc. raised its stake in Energy Transfer by 16.0% during the 3rd quarter. Proffitt & Goodson Inc. now owns 6,025 shares of the pipeline company’s stock worth $97,000 after buying an additional 829 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in Energy Transfer during the 3rd quarter worth approximately $130,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.2 %

ET opened at $17.09 on Thursday. Energy Transfer LP has a fifty-two week low of $13.11 and a fifty-two week high of $17.71. The firm has a market capitalization of $58.51 billion, a P/E ratio of 12.57, a PEG ratio of 0.52 and a beta of 1.66. The company’s 50-day moving average is $16.35 and its 200 day moving average is $16.07. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The firm 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 12.38% and a net margin of 5.90%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS. Research analysts expect that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be paid a $0.3225 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 7.55%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Insider Activity

In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now 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 acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ET. Bank of America started coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada lifted their price objective 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. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Buy” and an average target price of $20.00.

Energy Transfer 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.