Adirondack Trust Co. Has $96,000 Stock Holdings in Energy Transfer LP (NYSE:ET)

Adirondack Trust Co. raised its stake in Energy Transfer LP (NYSE:ET) by 106.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,985 shares of the pipeline company’s stock after buying an additional 3,085 shares during the period. Adirondack Trust Co.’s holdings in Energy Transfer were worth $96,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ET. CWM LLC raised its position in Energy Transfer by 60.6% in the third quarter. CWM LLC now owns 98,436 shares of the pipeline company’s stock valued at $1,580,000 after purchasing an additional 37,136 shares during the last quarter. Daymark Wealth Partners LLC increased its stake in shares of Energy Transfer by 7.2% in the third quarter. Daymark Wealth Partners LLC now owns 160,131 shares of the pipeline company’s stock valued at $2,570,000 after buying an additional 10,705 shares during the period. Howard Financial Services LTD. raised its holdings in Energy Transfer by 11.0% in the 3rd quarter. Howard Financial Services LTD. now owns 181,172 shares of the pipeline company’s stock valued at $2,908,000 after buying an additional 17,938 shares during the last quarter. SL Advisors LLC boosted its position in Energy Transfer by 1.8% during the 3rd quarter. SL Advisors LLC now owns 379,324 shares of the pipeline company’s stock worth $6,088,000 after buying an additional 6,836 shares during the period. Finally, Brookstone Capital Management grew its holdings in Energy Transfer by 5.2% during the 3rd quarter. Brookstone Capital Management now owns 216,358 shares of the pipeline company’s stock worth $3,473,000 after acquiring an additional 10,738 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ET shares. Mizuho upped their price target on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. upped their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Finally, UBS Group raised their price target 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. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Energy Transfer has an average rating of “Buy” and a consensus price target of $20.00.

Insider Transactions at Energy Transfer

In other news, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Energy Transfer news, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 3,040,000 shares of company stock worth $47,667,200 in the last quarter. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Trading Up 0.6 %

NYSE ET opened at $16.26 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a 52 week low of $12.90 and a 52 week high of $16.50. The business has a 50 day moving average price of $16.03 and a 200-day moving average price of $15.90. The company has a market cap of $54.80 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same quarter in the prior year, the business earned $0.25 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, equities analysts expect that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 7.87%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. Energy Transfer’s payout ratio is currently 117.43%.

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.