Energy Transfer LP $ET Stake Raised by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Energy Transfer LP (NYSE:ET) by 14.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,211,600 shares of the pipeline company’s stock after buying an additional 1,029,000 shares during the quarter. Energy Transfer comprises 8.0% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.24% of Energy Transfer worth $140,911,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ET. Clark Asset Management LLC grew its holdings in shares of Energy Transfer by 28.0% in the third quarter. Clark Asset Management LLC now owns 30,825 shares of the pipeline company’s stock valued at $529,000 after purchasing an additional 6,746 shares in the last quarter. SL Advisors LLC raised its stake in Energy Transfer by 13.9% during the third quarter. SL Advisors LLC now owns 431,577 shares of the pipeline company’s stock valued at $7,406,000 after purchasing an additional 52,709 shares in the last quarter. Oak Harvest Investment Services lifted its position in Energy Transfer by 7.2% during the third quarter. Oak Harvest Investment Services now owns 45,757 shares of the pipeline company’s stock valued at $785,000 after purchasing an additional 3,077 shares during the last quarter. Fortitude Family Office LLC grew its stake in shares of Energy Transfer by 275.2% in the 3rd quarter. Fortitude Family Office LLC now owns 9,985 shares of the pipeline company’s stock worth $171,000 after buying an additional 7,324 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in shares of Energy Transfer by 3.2% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 430,948 shares of the pipeline company’s stock worth $7,395,000 after buying an additional 13,373 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 1.6%

ET opened at $16.54 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. The stock’s 50 day moving average price is $16.63 and its 200-day moving average price is $17.16. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The stock has a market cap of $56.77 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 0.98 and a beta of 0.65.

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

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Friday, November 7th were issued a $0.3325 dividend. The ex-dividend date was Friday, November 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a dividend yield of 8.0%. Energy Transfer’s dividend payout ratio (DPR) is currently 106.40%.

Insider Buying and Selling

In related 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 stock was bought at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the acquisition, the director directly owned 104,577,803 shares of the company’s stock, valued at $1,772,593,760.85. This represents a 0.97% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.28% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on ET shares. JPMorgan Chase & Co. decreased their target price on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Monday, November 24th. Barclays reissued an “overweight” rating and set a $25.00 price objective on shares of Energy Transfer in a research note on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Energy Transfer in a research note on Wednesday, December 24th. Jefferies Financial Group set a $17.00 target price on Energy Transfer and gave the company a “hold” rating in a research report on Tuesday, October 28th. Finally, UBS Group restated a “buy” rating and issued a $22.00 price target on shares of Energy Transfer in a research 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. Based on data from MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus target price of $21.75.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.