D.A. Davidson & CO. Boosts Holdings in Energy Transfer LP $ET

Key Points

• D.A. Davidson & CO. increased its holdings in Energy Transfer LP by 9.0% during the second quarter, now owning 399,826 shares valued at approximately $7.25 million.
• Energy Transfer reported earnings per share (EPS) of $0.32, meeting analyst expectations, while revenue decreased 7.2% year-over-year to $19.24 billion.
• Numerous analysts have rated Energy Transfer stock as a "Moderate Buy", with a consensus target price of $22.67, indicating positive sentiment among investment analysts.

D.A. Davidson & CO. grew its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 9.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 399,826 shares of the pipeline company's stock after purchasing an additional 33,167 shares during the period. D.A. Davidson & CO.'s holdings in Energy Transfer were worth $7,249,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Ryan Investment Management Inc. acquired a new stake in shares of Energy Transfer during the second quarter worth approximately $31,000. Vision Financial Markets LLC acquired a new stake in shares of Energy Transfer during the first quarter worth approximately $33,000. Stone House Investment Management LLC acquired a new stake in shares of Energy Transfer during the first quarter worth approximately $38,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Energy Transfer during the first quarter worth approximately $40,000. Finally, Crowley Wealth Management Inc. acquired a new stake in shares of Energy Transfer during the second quarter worth approximately $44,000. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Stock Performance

ET stock opened at $16.85 on Friday. 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 stock has a market capitalization of $57.82 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.00 and a beta of 0.78. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The stock's fifty day moving average is $17.19 and its two-hundred day moving average is $17.38.

Energy Transfer (NYSE:ET - Get Free Report) last posted 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 company had revenue of $19.24 billion for 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 firm's quarterly revenue was down 7.2% compared to the same quarter last year. During the same period last year, the business posted $0.35 earnings per share. On average, research analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ET shares. Cowen started coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating for the company. UBS Group reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Morgan Stanley decreased their price objective on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. Scotiabank started coverage on shares of Energy Transfer in a report on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 price objective for the company. Finally, Barclays reaffirmed an "overweight" rating and issued a $25.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Energy Transfer currently has an average rating of "Moderate Buy" and a consensus target price of $22.67.

Insider Transactions at Energy Transfer

In related news, Director Kelcy L. Warren bought 1,350,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were bought at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the purchase, the director owned 69,178,477 shares of the company's stock, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.28% of the company's stock.

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.

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