Creative Planning Has $12.78 Million Stake in Energy Transfer LP (NYSE:ET)

Creative Planning boosted its holdings in Energy Transfer LP (NYSE:ET) by 16.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 796,099 shares of the pipeline company’s stock after acquiring an additional 115,081 shares during the period. Creative Planning’s holdings in Energy Transfer were worth $12,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ET. Wesbanco Bank Inc. raised its position in shares of Energy Transfer by 48.9% in the third quarter. Wesbanco Bank Inc. now owns 36,521 shares of the pipeline company’s stock valued at $586,000 after purchasing an additional 12,000 shares during the period. ORG Wealth Partners LLC bought a new position in Energy Transfer during the 3rd quarter worth $5,519,000. Redhawk Wealth Advisors Inc. lifted its holdings in shares of Energy Transfer by 4.0% during the third quarter. Redhawk Wealth Advisors Inc. now owns 35,274 shares of the pipeline company’s stock worth $566,000 after buying an additional 1,361 shares in the last quarter. Gilman Hill Asset Management LLC boosted its position in shares of Energy Transfer by 3.4% in the third quarter. Gilman Hill Asset Management LLC now owns 409,164 shares of the pipeline company’s stock valued at $6,567,000 after acquiring an additional 13,544 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in shares of Energy Transfer by 3.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,484,417 shares of the pipeline company’s stock valued at $23,825,000 after acquiring an additional 49,575 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the acquisition, the director now 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Kelcy L. Warren acquired 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas E. Long acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. UBS Group lifted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada boosted their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Stock Down 0.2 %

Shares of ET opened at $16.38 on Tuesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. Energy Transfer LP has a 52 week low of $12.90 and a 52 week high of $16.64. The stock has a market capitalization of $55.18 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.50 and a beta of 1.66. The stock has a fifty day moving average of $16.12 and a 200-day moving average of $15.95.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 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 firm had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same period in the previous year, the business posted $0.25 earnings per share. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced 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 7.82%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. Energy Transfer’s payout ratio is presently 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.