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

Focus Partners Advisor Solutions LLC acquired a new stake in Energy Transfer LP (NYSE:ET) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 48,359 shares of the pipeline company’s stock, valued at approximately $877,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ET. Kingstone Capital Partners Texas LLC acquired a new stake in Energy Transfer during the 2nd quarter worth $168,917,000. Alps Advisors Inc. raised its stake in Energy Transfer by 12.9% during the 1st quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock worth $1,400,831,000 after acquiring an additional 8,613,645 shares in the last quarter. Commerce Bank acquired a new stake in Energy Transfer during the 1st quarter worth $92,607,000. Energy Income Partners LLC raised its stake in Energy Transfer by 12.0% during the 1st quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock worth $429,802,000 after acquiring an additional 2,471,401 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Energy Transfer during the 1st quarter worth $44,876,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Up 0.4%

Shares of NYSE:ET opened at $16.99 on Wednesday. The company has a market cap of $58.30 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.01 and a beta of 0.78. The firm’s 50-day simple moving average is $17.16 and its 200-day simple moving average is $17.42. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $19.24 billion for 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%. The business’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. As a group, equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren bought 1,350,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were 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 directly owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.28% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ET has been the topic of several research analyst reports. Barclays reiterated an “overweight” rating and set a $25.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. UBS Group reissued a “buy” rating and set a $22.00 price objective on shares of Energy Transfer in a research report on Wednesday, October 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. TD Cowen assumed 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 on the stock. 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 analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Energy Transfer currently has an average rating of “Moderate Buy” and an average target price of $22.23.

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.