Energy Transfer LP $ET Shares Purchased by Anthracite Investment Company Inc.

Anthracite Investment Company Inc. raised its stake in Energy Transfer LP (NYSE:ET) by 8.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 272,500 shares of the pipeline company’s stock after buying an additional 21,500 shares during the quarter. Energy Transfer makes up about 2.5% of Anthracite Investment Company Inc.’s investment portfolio, making the stock its 15th largest holding. Anthracite Investment Company Inc.’s holdings in Energy Transfer were worth $4,940,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Ryan Investment Management Inc. bought a new stake in Energy Transfer in the second quarter valued at $31,000. Vision Financial Markets LLC bought a new stake in Energy Transfer in the first quarter valued at $33,000. CNB Bank lifted its stake in Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after buying an additional 1,000 shares during the last quarter. Stone House Investment Management LLC bought a new stake in Energy Transfer in the first quarter valued at $38,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Energy Transfer in the first quarter valued at $40,000. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

Shares of NYSE ET opened at $16.74 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The firm’s 50-day simple moving average is $17.18 and its 200 day simple moving average is $17.41. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The stock has a market cap of $57.45 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.00 and a beta of 0.78.

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

Insider Activity at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the acquisition, the director directly owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 3.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ET. TD Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating and a $22.00 target price on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research note on Friday. Barclays restated an “overweight” rating and set a $25.00 price objective on shares of Energy Transfer in a research note on Wednesday, October 15th. Wells Fargo & Company restated an “overweight” rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Finally, Scotiabank assumed coverage on shares of Energy Transfer in a research note on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price objective on the stock. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.67.

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.