Energy Transfer LP (NYSE:ET) Shares Purchased by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC boosted its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 239.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 563,458 shares of the pipeline company's stock after buying an additional 397,260 shares during the quarter. Icon Wealth Advisors LLC's holdings in Energy Transfer were worth $9,044,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. boosted its stake in Energy Transfer by 12.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company's stock valued at $594,769,000 after acquiring an additional 4,141,715 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Energy Transfer by 1.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company's stock valued at $261,263,000 after purchasing an additional 171,720 shares during the last quarter. Chickasaw Capital Management LLC boosted its position in shares of Energy Transfer by 3.1% in the 3rd quarter. Chickasaw Capital Management LLC now owns 15,350,521 shares of the pipeline company's stock valued at $246,376,000 after purchasing an additional 466,565 shares during the period. Citigroup Inc. boosted its position in shares of Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company's stock valued at $153,787,000 after purchasing an additional 3,013,973 shares during the period. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Energy Transfer by 7.9% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,293,510 shares of the pipeline company's stock worth $117,061,000 after buying an additional 536,047 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on ET shares. Royal Bank of Canada boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. UBS Group boosted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. Finally, Bank of America started coverage on Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 price target for the company. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Energy Transfer currently has a consensus rating of "Buy" and an average price target of $20.00.

Energy Transfer Trading Up 0.5 %

Shares of NYSE ET traded up $0.09 on Friday, reaching $19.06. 22,155,271 shares of the company traded hands, compared to its average volume of 13,649,210. The stock has a market capitalization of $65.26 billion, a PE ratio of 13.95, a P/E/G ratio of 0.55 and a beta of 1.66. Energy Transfer LP has a fifty-two week low of $13.11 and a fifty-two week high of $19.20. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The company has a 50 day moving average of $16.61 and a 200 day moving average of $16.16.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts' consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the prior year, the firm posted $0.31 EPS. The business's revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts forecast that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 6.77%. The ex-dividend date was Friday, November 8th. Energy Transfer's payout ratio is 94.85%.

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.