Creekmur Asset Management LLC Cuts Stake in Energy Transfer LP (NYSE:ET)

Creekmur Asset Management LLC reduced its stake in shares of Energy Transfer LP (NYSE:ET) by 25.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,065 shares of the pipeline company’s stock after selling 1,386 shares during the quarter. Creekmur Asset Management LLC’s holdings in Energy Transfer were worth $65,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Rehmann Capital Advisory Group grew its holdings in Energy Transfer by 2.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock valued at $505,000 after buying an additional 633 shares in the last quarter. Veracity Capital LLC grew its holdings in Energy Transfer by 2.0% during the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock valued at $545,000 after buying an additional 659 shares in the last quarter. Sfmg LLC grew its holdings in Energy Transfer by 2.2% during the 1st quarter. Sfmg LLC now owns 31,406 shares of the pipeline company’s stock valued at $494,000 after buying an additional 674 shares in the last quarter. Morton Capital Management LLC CA grew its holdings in Energy Transfer by 1.6% during the 2nd quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock valued at $720,000 after buying an additional 699 shares in the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in Energy Transfer by 3.6% during the 1st quarter. FinTrust Capital Advisors LLC now owns 20,201 shares of the pipeline company’s stock valued at $318,000 after buying an additional 700 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Up 0.2 %

NYSE ET opened at $16.41 on Wednesday. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The company has a fifty day moving average of $16.17 and a two-hundred day moving average of $15.98. The firm has a market capitalization of $55.30 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.49 and a beta of 1.66. Energy Transfer LP has a 52 week low of $12.90 and a 52 week high of $16.64.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, analysts predict that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be given a dividend of $0.3225 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 7.86%. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Royal Bank of Canada raised their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $20.00.

Insider Transactions at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the executive vice president now owns 591,211 shares in the company, valued at $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is currently owned by insiders.

About Energy Transfer

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.