KPP Advisory Services LLC Raises Holdings in Energy Transfer LP $ET

KPP Advisory Services LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 5.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 38,039 shares of the pipeline company’s stock after acquiring an additional 1,831 shares during the period. KPP Advisory Services LLC’s holdings in Energy Transfer were worth $690,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Ryan Investment Management Inc. purchased a new stake in Energy Transfer during the 2nd quarter worth about $31,000. Vision Financial Markets LLC purchased a new stake in Energy Transfer during the 1st quarter worth about $33,000. Stone House Investment Management LLC purchased a new stake in Energy Transfer during the 1st quarter worth about $38,000. N.E.W. Advisory Services LLC purchased a new stake in Energy Transfer during the 1st quarter worth about $40,000. Finally, Crowley Wealth Management Inc. purchased a new stake in Energy Transfer during the 2nd quarter worth about $44,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on ET shares. TD Cowen started coverage on Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating and a $22.00 price objective for the company. Morgan Stanley lowered their price objective on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Scotiabank started coverage on Energy Transfer in a research report on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $22.67.

Energy Transfer Stock Down 0.4%

Shares of NYSE ET opened at $16.85 on Friday. The stock has a market cap of $57.82 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78. 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 52-week low of $14.60 and a 52-week high of $21.45. The business has a 50-day moving average price of $17.19 and a 200 day moving average price of $17.38.

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 analysts’ consensus estimates of $0.32. The firm had revenue of $19.24 billion during the quarter, compared to analysts’ expectations of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS. Equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Insider Activity

In other news, Director Kelcy L. Warren bought 1,350,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following 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 SEC, which is accessible through the SEC website. 3.28% of the stock is currently owned by company insiders.

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.