Whipplewood Advisors LLC Increases Position in Energy Transfer LP $ET

Whipplewood Advisors LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 742,175.0% during the 2nd quarter, Holdings Channel reports. The firm owned 29,691 shares of the pipeline company’s stock after acquiring an additional 29,687 shares during the period. Whipplewood Advisors LLC’s holdings in Energy Transfer were worth $538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in ET. Ryan Investment Management Inc. bought a new stake in shares of Energy Transfer in the 2nd quarter worth approximately $31,000. Vision Financial Markets LLC bought a new stake in shares of Energy Transfer in the first quarter valued at approximately $33,000. CNB Bank raised its position in shares of 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 purchasing an additional 1,000 shares during the period. Stone House Investment Management LLC purchased a new stake in shares of Energy Transfer during the 1st quarter valued at approximately $38,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Energy Transfer during the first quarter worth $40,000. Institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ET shares. TD Cowen assumed coverage on Energy Transfer in a research report on Monday, July 7th. They issued a “buy” rating and a $22.00 price target for the company. Wells Fargo & Company reaffirmed an “overweight” rating and set a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Morgan Stanley cut their price target on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Cowen started coverage on Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating for the company. Finally, UBS Group restated a “buy” rating and issued a $22.00 target price on shares of Energy Transfer in a research note on Wednesday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.67.

Insider Buying and Selling

In other news, Director Kelcy L. Warren bought 1,350,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the purchase, 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 can be accessed through this hyperlink. Company insiders own 3.28% of the company’s stock.

Energy Transfer Trading Down 0.7%

Shares of 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 has a fifty day simple moving average of $17.18 and a two-hundred day simple moving average of $17.41. The stock has a market capitalization of $57.45 billion, a P/E ratio of 12.97, a PEG ratio of 1.00 and a beta of 0.78. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45.

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