180 Wealth Advisors LLC Invests $136,000 in Energy Transfer LP (NYSE:ET)

180 Wealth Advisors LLC bought a new position in Energy Transfer LP (NYSE:ET) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 23,000 shares of the pipeline company’s stock, valued at approximately $136,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blackstone Group Inc lifted its holdings in shares of Energy Transfer by 96.3% in the 2nd quarter. Blackstone Group Inc now owns 161,580,105 shares of the pipeline company’s stock worth $1,150,451,000 after purchasing an additional 79,270,161 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of Energy Transfer by 1.6% during the 2nd quarter. Neuberger Berman Group LLC now owns 25,620,468 shares of the pipeline company’s stock valued at $182,417,000 after purchasing an additional 411,201 shares during the period. Brookfield Asset Management Inc. acquired a new position in shares of Energy Transfer during the 2nd quarter valued at $120,118,000. FMR LLC increased its position in shares of Energy Transfer by 2.3% during the 2nd quarter. FMR LLC now owns 4,862,143 shares of the pipeline company’s stock valued at $34,618,000 after purchasing an additional 107,596 shares during the period. Finally, Stephens Inc. AR increased its position in shares of Energy Transfer by 54.2% during the 2nd quarter. Stephens Inc. AR now owns 2,751,251 shares of the pipeline company’s stock valued at $19,589,000 after purchasing an additional 966,939 shares during the period. Institutional investors own 39.83% of the company’s stock.

Shares of ET traded down $0.18 on Monday, hitting $6.12. The company’s stock had a trading volume of 394,687 shares, compared to its average volume of 27,229,197. The company has a market capitalization of $16.98 billion, a PE ratio of 12.35 and a beta of 2.56. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.03 and a quick ratio of 0.71. Energy Transfer LP has a fifty-two week low of $3.75 and a fifty-two week high of $13.86. The company has a 50 day moving average price of $5.86 and a 200 day moving average price of $6.78.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 5th. The pipeline company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.12). Energy Transfer had a return on equity of 8.64% and a net margin of 2.90%. The firm had revenue of $7.34 billion for the quarter, compared to analyst estimates of $11.60 billion. On average, equities analysts forecast that Energy Transfer LP will post 0.75 EPS for the current year.

A number of equities analysts recently issued reports on the company. Raymond James decreased their target price on Energy Transfer from $11.00 to $10.00 and set a “strong-buy” rating on the stock in a report on Tuesday, October 20th. Piper Sandler lowered their price target on Energy Transfer from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, October 9th. Zacks Investment Research upgraded Energy Transfer from a “sell” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada lowered their price target on Energy Transfer from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Monday, July 27th. Finally, Wells Fargo & Company downgraded Energy Transfer from an “overweight” rating to an “equal weight” rating and set a $8.00 price target on the stock. in a report on Wednesday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $9.88.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and 12,500 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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