Focus Partners Advisor Solutions LLC Takes Position in Energy Transfer LP $ET

Focus Partners Advisor Solutions LLC purchased a new stake in Energy Transfer LP (NYSE:ET) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 48,359 shares of the pipeline company’s stock, valued at approximately $877,000.

Other hedge funds have also made changes to their positions in the company. Ryan Investment Management Inc. purchased a new stake in shares of Energy Transfer in the 2nd quarter valued at approximately $31,000. Vision Financial Markets LLC purchased a new stake in shares of Energy Transfer in the 1st quarter valued at approximately $33,000. CNB Bank grew its stake in shares of Energy Transfer by 111.1% in the 2nd 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 period. Stone House Investment Management LLC purchased a new stake in shares of Energy Transfer in the 1st quarter valued at approximately $38,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Energy Transfer in the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of Energy Transfer stock in a transaction on Wednesday, August 20th. The shares were bought 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 in the company, valued at $1,200,938,360.72. This represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ET. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. 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 report on Tuesday, August 12th. TD Cowen began coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating and a $22.00 price objective for the company. Barclays reaffirmed an “overweight” rating and set a $25.00 price objective on shares of Energy Transfer in a research report on Wednesday, October 15th. Finally, Jefferies Financial Group set a $17.00 price objective on shares of Energy Transfer and gave the stock a “hold” rating in a research report on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $22.23.

Energy Transfer Price Performance

Energy Transfer stock opened at $16.99 on Wednesday. The firm has a market cap of $58.30 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 1.01 and a beta of 0.78. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. 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 company’s 50 day moving average is $17.16 and its two-hundred day moving average is $17.42.

Energy Transfer (NYSE:ET) last released its 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 company had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.35 EPS. On average, research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

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.