Caliber Wealth Management LLC KS Boosts Position in Energy Transfer LP $ET

Caliber Wealth Management LLC KS increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 21.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,799 shares of the pipeline company’s stock after purchasing an additional 2,279 shares during the quarter. Caliber Wealth Management LLC KS’s holdings in Energy Transfer were worth $232,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Ryan Investment Management Inc. purchased a new stake in Energy Transfer in the second quarter valued at approximately $31,000. Vision Financial Markets LLC purchased a new stake in Energy Transfer in the first quarter valued at approximately $33,000. Stone House Investment Management LLC purchased a new stake in Energy Transfer in the first quarter valued at approximately $38,000. N.E.W. Advisory Services LLC purchased a new stake in Energy Transfer in the first quarter valued at approximately $40,000. Finally, Crowley Wealth Management Inc. purchased a new stake in Energy Transfer in the second quarter valued at approximately $44,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Insiders Place Their Bets

In other Energy Transfer news, Director Kelcy L. Warren acquired 1,350,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the acquisition, the director directly owned 69,178,477 shares of the company’s stock, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 3.28% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Cowen assumed coverage on Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating for the company. Scotiabank started coverage on Energy Transfer in a report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 target price on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. Barclays reissued an “overweight” rating and issued a $25.00 target price on shares of Energy Transfer in a report on Wednesday, October 15th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.67.

Energy Transfer Trading Up 0.7%

Shares of ET stock opened at $16.89 on Thursday. The business’s fifty day moving average price is $17.20 and its 200 day moving average price is $17.38. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The firm has a market capitalization of $57.96 billion, a PE ratio of 13.09, a P/E/G ratio of 1.00 and a beta of 0.78. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The firm had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. Energy Transfer’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

About Energy Transfer

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.