Brookstone Capital Management Boosts Stake in Energy Transfer LP $ET

Brookstone Capital Management lifted its holdings in Energy Transfer LP (NYSE:ET) by 2.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 249,040 shares of the pipeline company’s stock after acquiring an additional 4,836 shares during the quarter. Brookstone Capital Management’s holdings in Energy Transfer were worth $4,515,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ET. Brighton Jones LLC increased its stake in shares of Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after acquiring an additional 11,844 shares during the period. Daymark Wealth Partners LLC increased its stake in shares of Energy Transfer by 2.7% in the first quarter. Daymark Wealth Partners LLC now owns 165,068 shares of the pipeline company’s stock worth $3,069,000 after acquiring an additional 4,390 shares during the period. Spire Wealth Management increased its stake in shares of Energy Transfer by 2.2% in the first quarter. Spire Wealth Management now owns 105,239 shares of the pipeline company’s stock worth $1,956,000 after acquiring an additional 2,281 shares during the period. Golden State Wealth Management LLC increased its stake in shares of Energy Transfer by 101.8% in the first quarter. Golden State Wealth Management LLC now owns 4,181 shares of the pipeline company’s stock worth $78,000 after acquiring an additional 2,109 shares during the period. Finally, Tyche Wealth Partners LLC increased its stake in shares of Energy Transfer by 8.8% in the first quarter. Tyche Wealth Partners LLC now owns 19,456 shares of the pipeline company’s stock worth $362,000 after acquiring an additional 1,569 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Activity

In related 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 acquired at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the transaction, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ET shares. Wells Fargo & Company reiterated an “overweight” rating and issued 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 objective on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. Cowen initiated coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Finally, Barclays restated an “overweight” rating and set a $25.00 price target on shares of Energy Transfer in a research report on Wednesday, October 15th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.67.

Energy Transfer Stock Down 0.4%

ET stock opened at $16.85 on Friday. The firm has a market cap of $57.82 billion, a PE ratio of 13.06, a P/E/G ratio of 1.00 and a beta of 0.78. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. The firm’s fifty day moving average is $17.19 and its 200 day moving average is $17.38. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45.

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