Hodges Capital Management Inc. Boosts Stock Holdings in Energy Transfer LP (NYSE:ET)

Hodges Capital Management Inc. grew its stake in Energy Transfer LP (NYSE:ET) by 4.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 152,476 shares of the pipeline company’s stock after purchasing an additional 6,482 shares during the period. Hodges Capital Management Inc.’s holdings in Energy Transfer were worth $826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. FDx Advisors Inc. grew its position in shares of Energy Transfer by 19.8% in the first quarter. FDx Advisors Inc. now owns 22,893 shares of the pipeline company’s stock valued at $105,000 after purchasing an additional 3,779 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Energy Transfer by 12.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 1,841,912 shares of the pipeline company’s stock valued at $13,114,000 after purchasing an additional 202,304 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Energy Transfer in the second quarter valued at approximately $111,000. Mercer Global Advisors Inc. ADV grew its position in shares of Energy Transfer by 3.3% in the first quarter. Mercer Global Advisors Inc. ADV now owns 66,107 shares of the pipeline company’s stock valued at $304,000 after purchasing an additional 2,094 shares in the last quarter. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of Energy Transfer in the second quarter valued at approximately $625,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

NYSE:ET opened at $6.02 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.03 and a debt-to-equity ratio of 1.56. The stock’s fifty day moving average is $5.93 and its two-hundred day moving average is $6.75. Energy Transfer LP has a 52 week low of $3.75 and a 52 week high of $13.86. The stock has a market capitalization of $16.23 billion, a price-to-earnings ratio of 11.80 and a beta of 2.56.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, August 5th. The pipeline company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts expect that Energy Transfer LP will post 0.76 EPS for the current fiscal year.

ET has been the subject of a number of analyst reports. Citigroup dropped their price target on Energy Transfer from $18.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, June 22nd. Morgan Stanley decreased their price objective on Energy Transfer from $8.00 to $6.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 15th. Piper Sandler decreased their price objective on Energy Transfer from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, October 9th. Wells Fargo & Company cut Energy Transfer from an “overweight” rating to an “equal weight” rating and set a $8.00 price objective on the stock. in a report on Wednesday, July 22nd. Finally, Stifel Nicolaus decreased their price objective on Energy Transfer from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $9.94.

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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