Waverly Advisors Adds $6M in Energy Transfer LP ($ET)
Key Points
- Waverly Advisors changed its Energy Transfer LP ($ET) stake by 22.32% last quarter, boosting to 1,725,843 shares worth $33 million.
- Wall Street's consensus rating on $ET is Strong Buy and an average price target of $24.53.
- $ET last traded around $19.12.
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Waverly Advisors increased its position in Energy Transfer LP ($ET) by 22.32% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,725,843 shares of Energy Transfer LP after buying 314,965 shares during the quarter. Waverly Advisors's holdings in Energy Transfer LP were worth $33 million as of its most recent filing.
Energy Transfer LP Stock Down 10.3%
Shares of Energy Transfer LP ($ET) traded around $19.12 on Saturday, down 10.3% for the day.
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About Energy Transfer LP
Energy Transfer LP, together with its subsidiaries, provides energy-related services in the United States. It operates through Intrastate Transportation and Storage; Interstate Transportation and Storage; Midstream; Natural Gas Liquid (NGL) and Refined Products Transportation and Services; Crude Oil Transportation and Services; Investment in Sunoco LP; Investment in USA Compression Partners, LP (USAC); and All Other segments. The company owns and operates natural gas transportation pipelines and storage facilities; and approximately 12,200 miles of intrastate natural gas transportation pipelines and 20,090 miles of interstate natural gas pipelines. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users. In addition, the company owns and operates natural gas gathering pipelines, processing plants, and treating and conditioning facilities; and natural gas gathering, compression, treating, dehydration and processing, oil pipeline facilities. Further, it owns 5,700 miles of NGL pipelines; NGL fractionation and storage facilities; and other NGL storage assets and terminals. Additionally, the company provides crude oil transportation, terminalling, trucking, acquisition, and marketing activities; owns and operates approximately 18,000 miles of crude oil trunk and gathering pipelines; and sells and distributes motor fuels and other petroleum products under the Sunoco and EcoMaxx brands. It also offers natural gas compression; wholesale power trading; and carbon dioxide and hydrogen sulfide removal services, as well as management of coal and natural resources properties; sells standing timber; leases coal-related infrastructure facilities; and collects oil and gas royalties. The company was formerly known as Energy Transfer Equity, L.P. and changed its name to Energy Transfer LP in October 2018. Energy Transfer LP was founded in 1996 and is headquartered in Dallas, Texas.
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