Obermeyer Wealth Partners Increases Stock Position in Energy Transfer LP (NYSE:ET)

Obermeyer Wealth Partners boosted its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 44.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,674 shares of the pipeline company's stock after purchasing an additional 18,715 shares during the period. Obermeyer Wealth Partners' holdings in Energy Transfer were worth $1,128,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ET. United Advisor Group LLC lifted its stake in Energy Transfer by 3.0% during the 4th quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company's stock valued at $363,000 after acquiring an additional 534 shares during the period. Cannell & Spears LLC lifted its holdings in Energy Transfer by 0.4% in the fourth quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company's stock valued at $2,657,000 after acquiring an additional 546 shares during the period. Morton Capital Management LLC CA lifted its holdings in Energy Transfer by 1.3% in the first quarter. Morton Capital Management LLC CA now owns 46,382 shares of the pipeline company's stock valued at $862,000 after acquiring an additional 593 shares during the period. OneDigital Investment Advisors LLC lifted its stake in shares of Energy Transfer by 3.0% in the 4th quarter. OneDigital Investment Advisors LLC now owns 20,389 shares of the pipeline company's stock valued at $399,000 after purchasing an additional 596 shares during the period. Finally, Thoroughbred Financial Services LLC lifted its stake in shares of Energy Transfer by 2.8% in the 4th quarter. Thoroughbred Financial Services LLC now owns 23,183 shares of the pipeline company's stock valued at $454,000 after purchasing an additional 628 shares during the period. Hedge funds and other institutional investors own 38.22% of the company's stock.

Energy Transfer Trading Up 1.3%

Shares of ET traded up $0.23 during mid-day trading on Thursday, reaching $17.67. The stock had a trading volume of 10,009,533 shares, compared to its average volume of 15,640,029. 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 52-week low of $14.60 and a 52-week high of $21.45. The business's fifty day moving average is $17.80 and its 200 day moving average is $18.31. The firm has a market cap of $60.62 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 0.90 and a beta of 0.79.

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

Wall Street Analysts Forecast Growth

ET has been the subject of several analyst reports. TD Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 target price for the company. Mizuho boosted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. Wells Fargo & Company decreased their target price on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. JPMorgan Chase & Co. decreased their target price on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Finally, Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating for the company. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.58.

Insiders Place Their Bets

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

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.