Shepherd Kaplan Krochuk LLC lifted its position in Energy Transfer LP (NYSE:ET) by 13.4% in the 3rd quarter, Holdings Channel reports. The fund owned 485,344 shares of the pipeline company’s stock after acquiring an additional 57,433 shares during the quarter. Energy Transfer accounts for 1.1% of Shepherd Kaplan Krochuk LLC’s holdings, making the stock its 21st biggest holding. Shepherd Kaplan Krochuk LLC’s holdings in Energy Transfer were worth $2,631,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. CVA Family Office LLC boosted its stake in Energy Transfer by 150.0% during the 3rd quarter. CVA Family Office LLC now owns 5,000 shares of the pipeline company’s stock valued at $27,000 after purchasing an additional 3,000 shares during the last quarter. Professional Financial Advisors LLC purchased a new position in Energy Transfer during the third quarter valued at $29,000. Cerebellum GP LLC purchased a new position in Energy Transfer during the third quarter valued at $31,000. Horan Securities Inc. lifted its position in Energy Transfer by 107.6% during the third quarter. Horan Securities Inc. now owns 6,359 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 3,296 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in Energy Transfer by 30.3% during the second quarter. Flagship Harbor Advisors LLC now owns 7,287 shares of the pipeline company’s stock valued at $51,000 after purchasing an additional 1,694 shares in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on ET shares. Zacks Investment Research raised Energy Transfer from a “sell” rating to a “hold” rating in a report on Thursday, October 22nd. ValuEngine cut Energy Transfer from a “sell” rating to a “strong sell” rating in a report on Monday, August 3rd. Raymond James decreased their price target on Energy Transfer from $10.00 to $9.00 and set a “strong-buy” rating on the stock in a report on Thursday, November 5th. Stifel Nicolaus decreased their price target on Energy Transfer from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Piper Sandler decreased their price target on Energy Transfer from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, October 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $9.82.
ET opened at $6.34 on Monday. The firm has a market cap of $17.16 billion, a P/E ratio of -63.60 and a beta of 2.65. Energy Transfer LP has a 12 month low of $3.75 and a 12 month high of $13.86. The company has a current ratio of 1.03, a quick ratio of 0.71 and a debt-to-equity ratio of 1.56. The stock has a 50-day moving average of $5.77 and a 200 day moving average of $6.60.
Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 4th. The pipeline company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.52). The company had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $10.08 billion. Energy Transfer had a positive return on equity of 8.12% and a negative net margin of 0.64%. The company’s revenue was down 26.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 EPS. On average, research analysts forecast that Energy Transfer LP will post 0.75 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 19th. Investors of record on Friday, November 6th were given a $0.153 dividend. The ex-dividend date of this dividend was Thursday, November 5th. This represents a $0.61 annualized dividend and a yield of 9.65%. Energy Transfer’s dividend payout ratio is currently 42.07%.
About Energy Transfer
Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,500 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
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