Brookstone Capital Management Buys 4,836 Shares of Energy Transfer LP $ET

Brookstone Capital Management grew its stake in Energy Transfer LP (NYSE:ET) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,040 shares of the pipeline company’s stock after acquiring an additional 4,836 shares during the period. Brookstone Capital Management’s holdings in Energy Transfer were worth $4,515,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ET. Brighton Jones LLC lifted its position in shares of Energy Transfer by 93.4% in the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after purchasing an additional 11,844 shares during the period. Daymark Wealth Partners LLC lifted its position in shares of Energy Transfer by 2.7% in the 1st quarter. Daymark Wealth Partners LLC now owns 165,068 shares of the pipeline company’s stock worth $3,069,000 after purchasing an additional 4,390 shares during the period. Spire Wealth Management lifted its position in shares of Energy Transfer by 2.2% in the 1st quarter. Spire Wealth Management now owns 105,239 shares of the pipeline company’s stock worth $1,956,000 after purchasing an additional 2,281 shares during the period. Golden State Wealth Management LLC lifted its position in shares of Energy Transfer by 101.8% in the 1st quarter. Golden State Wealth Management LLC now owns 4,181 shares of the pipeline company’s stock worth $78,000 after purchasing an additional 2,109 shares during the period. Finally, Tyche Wealth Partners LLC lifted its position in shares of Energy Transfer by 8.8% in the 1st quarter. Tyche Wealth Partners LLC now owns 19,456 shares of the pipeline company’s stock worth $362,000 after purchasing an additional 1,569 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ET shares. Morgan Stanley lowered their price target on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Scotiabank started coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price target for the company. Wells Fargo & Company reissued an “overweight” rating and set a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Barclays reissued an “overweight” rating and set a $25.00 target price on shares of Energy Transfer in a research report on Wednesday, October 15th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.67.

Insider Activity

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the acquisition, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Trading Down 0.4%

NYSE ET opened at $16.85 on Friday. The company has a fifty day simple moving average of $17.19 and a two-hundred day simple moving average of $17.38. The stock has a market cap of $57.82 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.00 and a beta of 0.78. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $19.24 billion during the quarter, compared to analysts’ expectations of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The business’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the company posted $0.35 earnings per share. On average, analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

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.