Kayne Anderson Capital Advisors LP Acquires 182,705 Shares of Energy Transfer LP (NYSE:ET)

Kayne Anderson Capital Advisors LP grew its position in Energy Transfer LP (NYSE:ET - Free Report) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,170,455 shares of the pipeline company's stock after buying an additional 182,705 shares during the quarter. Energy Transfer accounts for 9.9% of Kayne Anderson Capital Advisors LP's holdings, making the stock its 3rd largest holding. Kayne Anderson Capital Advisors LP owned about 0.70% of Energy Transfer worth $449,329,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Kingsman Wealth Management Inc. purchased a new stake in shares of Energy Transfer during the 1st quarter worth $1,959,000. Aire Advisors LLC lifted its stake in shares of Energy Transfer by 17.1% during the 1st quarter. Aire Advisors LLC now owns 28,052 shares of the pipeline company's stock worth $521,000 after purchasing an additional 4,088 shares during the last quarter. Chancellor Financial Group WB LP lifted its stake in shares of Energy Transfer by 7.3% during the 1st quarter. Chancellor Financial Group WB LP now owns 16,597 shares of the pipeline company's stock worth $309,000 after purchasing an additional 1,130 shares during the last quarter. Meridian Wealth Advisors LLC lifted its stake in shares of Energy Transfer by 5.6% during the 1st quarter. Meridian Wealth Advisors LLC now owns 69,928 shares of the pipeline company's stock worth $1,300,000 after purchasing an additional 3,700 shares during the last quarter. Finally, J.W. Cole Advisors Inc. increased its position in Energy Transfer by 147.0% during the 1st quarter. J.W. Cole Advisors Inc. now owns 218,978 shares of the pipeline company's stock valued at $4,071,000 after buying an additional 130,339 shares in the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Cowen assumed coverage on Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating on the stock. JPMorgan Chase & Co. reduced their target price on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. TD Cowen started coverage on Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating and a $22.00 target price on the stock. Wells Fargo & Company cut their price objective on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Finally, Mizuho increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Energy Transfer presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.58.

Insider Transactions at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction on Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the sale, the director directly owned 24,523 shares of the company's stock, valued at approximately $453,185.04. The trade was a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.28% of the stock is currently owned by company insiders.

Energy Transfer Price Performance

ET stock traded up $0.06 during mid-day trading on Thursday, reaching $17.50. 6,262,507 shares of the company's stock were exchanged, compared to its average volume of 15,615,633. The company has a market cap of $60.04 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 0.90 and a beta of 0.79. The stock's 50 day moving average is $17.80 and its 200 day moving average is $18.31. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The company had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. Energy Transfer's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 earnings per share. On average, research analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

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.