Energy Transfer LP (NYSE:ET) Shares Purchased by Wexford Capital LP

Wexford Capital LP boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 16.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 575,015 shares of the pipeline company’s stock after purchasing an additional 80,000 shares during the quarter. Energy Transfer comprises 2.2% of Wexford Capital LP’s portfolio, making the stock its 9th biggest holding. Wexford Capital LP’s holdings in Energy Transfer were worth $9,229,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Princeton Global Asset Management LLC grew its stake in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the last quarter. Assetmark Inc. raised its stake 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 purchasing an additional 1,668 shares during the last quarter. HWG Holdings LP purchased a new position in Energy Transfer in the 2nd quarter valued at 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 worth $40,000 after purchasing an additional 750 shares during the last quarter. Finally, EdgeRock Capital LLC purchased a new stake in shares of Energy Transfer during the second quarter worth about $42,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

NYSE ET opened at $19.09 on Friday. The business’s 50-day simple moving average is $17.23 and its 200-day simple moving average is $16.39. The firm has a market capitalization of $65.36 billion, a P/E ratio of 14.04, a P/E/G ratio of 0.63 and a beta of 1.70. Energy Transfer LP has a 1-year low of $13.11 and a 1-year high of $20.02. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last released its quarterly earnings data 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 company had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts predict that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. 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 6.76%. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Analyst Ratings Changes

A number of analysts recently issued reports on ET shares. Bank of America assumed coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. UBS Group increased their target price 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, Royal Bank of Canada lifted their price target on 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, the stock 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.