Clear Street Derivatives LLC Makes New Investment in Energy Transfer LP (NYSE:ET)

Clear Street Derivatives LLC acquired a new stake in shares of Energy Transfer LP (NYSE:ET) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 159,800 shares of the pipeline company’s stock, valued at approximately $2,565,000. Energy Transfer comprises about 0.0% of Clear Street Derivatives LLC’s portfolio, making the stock its 20th largest holding.

Other institutional investors also recently modified their holdings of the company. Princeton Global Asset Management LLC lifted its stake 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 worth $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. raised 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 purchasing an additional 1,668 shares in the last quarter. HWG Holdings LP purchased a new stake in shares of Energy Transfer in the 2nd quarter worth about $33,000. Sugarloaf Wealth Management LLC boosted its stake in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares in the last quarter. Finally, EdgeRock Capital LLC purchased a new position in shares of Energy Transfer during the second quarter valued at about $42,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. UBS Group raised 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. Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Royal Bank of Canada increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $20.00.

Energy Transfer Stock Up 2.3 %

Shares of NYSE:ET opened at $19.86 on Monday. The stock has a market capitalization of $68.00 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.64 and a beta of 1.66. The stock has a fifty day simple moving average of $16.99 and a two-hundred day simple moving average of $16.30. Energy Transfer LP has a 12-month low of $13.11 and a 12-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.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $21.59 billion. During the same period in the previous year, the company earned $0.31 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, research analysts anticipate 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 was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.50%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

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.