Rehmann Capital Advisory Group Trims Holdings in Energy Transfer LP $ET

Rehmann Capital Advisory Group decreased its holdings in Energy Transfer LP (NYSE:ET) by 20.2% during the second quarter, HoldingsChannel.com reports. The firm owned 26,339 shares of the pipeline company’s stock after selling 6,680 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Energy Transfer were worth $478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brookstone Capital Management increased its stake in Energy Transfer by 2.0% in the second quarter. Brookstone Capital Management now owns 249,040 shares of the pipeline company’s stock worth $4,515,000 after purchasing an additional 4,836 shares during the period. Private Capital Advisors Inc. increased its stake in Energy Transfer by 1.0% in the second quarter. Private Capital Advisors Inc. now owns 850,047 shares of the pipeline company’s stock worth $15,411,000 after purchasing an additional 8,445 shares during the period. Schulhoff & Co. Inc. increased its stake in Energy Transfer by 11.4% in the second quarter. Schulhoff & Co. Inc. now owns 27,840 shares of the pipeline company’s stock worth $505,000 after purchasing an additional 2,840 shares during the period. D.A. Davidson & CO. increased its stake in Energy Transfer by 9.0% in the second quarter. D.A. Davidson & CO. now owns 399,826 shares of the pipeline company’s stock worth $7,249,000 after purchasing an additional 33,167 shares during the period. Finally, Probity Advisors Inc. increased its stake in Energy Transfer by 26.6% in the second quarter. Probity Advisors Inc. now owns 16,209 shares of the pipeline company’s stock worth $294,000 after purchasing an additional 3,401 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Insiders Place Their Bets

In related 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 bought at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the transaction, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.28% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of 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 on the stock. Wells Fargo & Company reissued an “overweight” rating and set a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. UBS Group reissued a “buy” rating and set a $22.00 price target on shares of Energy Transfer in a research report on Wednesday, October 15th. Finally, TD Cowen began coverage on Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating and a $22.00 price target on the stock. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus target price of $22.67.

Energy Transfer Price Performance

Shares of ET stock opened at $16.85 on Friday. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The stock’s 50-day moving average is $17.19 and its 200 day moving average is $17.38. The company has a market cap of $57.82 billion, a P/E ratio of 13.06, a PEG 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 issued its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The company had revenue of $19.24 billion for the quarter, compared to the consensus estimate of $24.07 billion. During the same quarter last year, the company earned $0.35 earnings per share. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. Research analysts predict that Energy Transfer LP will post 1.46 earnings per share 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.