Northside Capital Management LLC Grows Stake in Energy Transfer LP $ET

Northside Capital Management LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 9.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,074,617 shares of the pipeline company’s stock after buying an additional 186,541 shares during the quarter. Energy Transfer accounts for 3.3% of Northside Capital Management LLC’s investment portfolio, making the stock its 5th biggest position. Northside Capital Management LLC’s holdings in Energy Transfer were worth $35,600,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ET. Ryan Investment Management Inc. bought a new position in shares of Energy Transfer in the second quarter valued at $31,000. CNB Bank lifted its stake in Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 1,000 shares during the last quarter. HHM Wealth Advisors LLC grew its position in shares of Energy Transfer by 54.4% in the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 800 shares during the period. Crowley Wealth Management Inc. acquired a new position in shares of Energy Transfer during the 2nd quarter worth about $44,000. Finally, Pacific Center for Financial Services raised its holdings in shares of Energy Transfer by 34.7% in the 1st quarter. Pacific Center for Financial Services now owns 2,586 shares of the pipeline company’s stock valued at $48,000 after purchasing an additional 666 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Transactions at Energy Transfer

In other news, Director Kelcy L. Warren acquired 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were acquired at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the purchase, the director directly owned 104,577,803 shares of the company’s stock, valued at $1,772,593,760.85. The trade was a 0.97% increase in their position. 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 owned by company insiders.

Energy Transfer Stock Performance

ET opened at $16.36 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The firm has a market cap of $56.15 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 0.99 and a beta of 0.65. The business’s fifty day moving average is $16.68 and its 200-day moving average is $17.27.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). The firm had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. Sell-side analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were given a dividend of $0.3325 per share. The ex-dividend date was Friday, November 7th. This represents a $1.33 annualized dividend and a dividend yield of 8.1%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is 106.40%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Scotiabank dropped their price objective on shares of Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a research report on Thursday, November 13th. Barclays restated an “overweight” rating and set a $25.00 target price on shares of Energy Transfer in a research note on Wednesday, October 15th. Morgan Stanley decreased their price target on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 2nd. Finally, Royal Bank Of Canada raised shares of Energy Transfer to a “moderate buy” rating in a report on Monday. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus target price of $21.62.

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.