Captrust Financial Advisors Boosts Stock Position in Energy Transfer LP (NYSE:ET)

Captrust Financial Advisors increased its holdings in Energy Transfer LP (NYSE:ET) by 6.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 502,486 shares of the pipeline company’s stock after purchasing an additional 29,076 shares during the period. Captrust Financial Advisors’ holdings in Energy Transfer were worth $8,065,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Princeton Global Asset Management LLC raised its holdings in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the period. Assetmark Inc. raised its holdings in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. HWG Holdings LP bought a new position in Energy Transfer in the second quarter worth about $33,000. Sugarloaf Wealth Management LLC grew its stake in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. acquired a new stake in shares of Energy Transfer in the 2nd quarter worth about $42,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Trading Up 2.3 %

NYSE:ET opened at $19.86 on Monday. The firm has a market cap of $68.00 billion, a price-to-earnings ratio of 14.60, a P/E/G ratio of 0.64 and a beta of 1.66. 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 LP has a 12 month low of $13.11 and a 12 month high of $20.02. The company’s 50 day moving average is $16.99 and its 200-day moving average is $16.30.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Energy Transfer’s revenue was up .2% compared to the same quarter last year. Equities analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 annualized dividend and a yield of 6.50%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ET. UBS Group lifted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Royal Bank of Canada increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company 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.