Fortem Financial Group LLC Purchases 11,455 Shares of Energy Transfer LP (NYSE:ET)

Fortem Financial Group LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 6.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 200,306 shares of the pipeline company’s stock after purchasing an additional 11,455 shares during the quarter. Energy Transfer accounts for about 1.3% of Fortem Financial Group LLC’s holdings, making the stock its 18th biggest position. Fortem Financial Group LLC’s holdings in Energy Transfer were worth $3,215,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Princeton Global Asset Management LLC raised its position in shares of 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 purchasing 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 valued at $28,000 after acquiring an additional 1,668 shares during the period. HWG Holdings LP bought a new position in Energy Transfer in the 2nd quarter valued at about $33,000. Sugarloaf Wealth Management LLC raised its holdings in Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 750 shares during the period. Finally, Continuum Advisory LLC increased its stake in shares of Energy Transfer by 44.8% during the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 729 shares during the period. Institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ET shares. Royal Bank of Canada increased their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday. UBS Group increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Energy Transfer currently has a consensus rating of “Buy” and a consensus target price of $20.38.

Energy Transfer Stock Performance

Energy Transfer stock opened at $18.74 on Wednesday. Energy Transfer LP has a 12-month low of $13.11 and a 12-month high of $20.02. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The business’s 50-day moving average price is $17.35 and its two-hundred day moving average price is $16.44. The stock has a market cap of $64.16 billion, a PE ratio of 13.78, a P/E/G ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS. As a group, analysts expect that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.88%. Energy Transfer’s payout ratio is presently 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.