Thrivent Financial for Lutherans Has $348,000 Stock Position in Energy Transfer LP (NYSE:ET)

Thrivent Financial for Lutherans lifted its position in shares of Energy Transfer LP (NYSE:ET) by 57.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,671 shares of the pipeline company’s stock after purchasing an additional 7,870 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Energy Transfer were worth $348,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Princeton Global Asset Management LLC increased its holdings in Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the last quarter. Assetmark Inc. increased its position in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares during the period. HWG Holdings LP bought a new stake in shares of Energy Transfer during the 2nd quarter worth approximately $33,000. Sugarloaf Wealth Management LLC raised its holdings 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 buying an additional 750 shares in the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in shares of Energy Transfer in the 2nd quarter valued at approximately $42,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of ET opened at $19.09 on Friday. Energy Transfer LP has a twelve month low of $13.11 and a twelve month high of $20.02. The firm has a 50 day moving average of $17.23 and a 200 day moving average of $16.39. 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 company has a market capitalization of $65.36 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70.

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

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.76%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 94.85%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ET. 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 target for the company. Royal Bank of Canada upped their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. 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. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Energy Transfer has an average rating of “Buy” and an average price target 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.