Assetmark Inc. Buys 1,668 Shares of Energy Transfer LP (NYSE:ET)

Assetmark Inc. increased its position in Energy Transfer LP (NYSE:ET) by 2,138.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,746 shares of the pipeline company’s stock after buying an additional 1,668 shares during the quarter. Assetmark Inc.’s holdings in Energy Transfer were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ET. Princeton Global Asset Management LLC raised its stake in 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 worth $26,000 after buying an additional 650 shares in the last quarter. LRI Investments LLC bought a new position in shares of Energy Transfer during the first quarter valued at $29,000. HWG Holdings LP bought a new position in Energy Transfer during the 2nd quarter valued at about $33,000. Sugarloaf Wealth Management LLC boosted its holdings in Energy Transfer by 43.6% in the third 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 position in shares of Energy Transfer in the 2nd quarter worth $42,000. 38.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ET shares. Bank of America began 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 for the company. 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 shares of 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 MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Price Performance

NYSE:ET opened at $17.96 on Wednesday. The firm has a market capitalization of $61.49 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 0.53 and a beta of 1.66. The business has a 50 day simple moving average of $16.50 and a 200-day simple moving average of $16.13. Energy Transfer LP has a 1 year low of $13.11 and a 1 year high of $18.08. 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 announced 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 business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter last year, the firm earned $0.31 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. Equities analysts forecast that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 7.18%. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

Insider Activity at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain acquired 20,000 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.28% of the stock is owned by company insiders.

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.