Energy Transfer LP $ET Shares Bought by Sunbelt Securities Inc.

Sunbelt Securities Inc. raised its stake in Energy Transfer LP (NYSE:ET) by 16.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 206,959 shares of the pipeline company’s stock after buying an additional 29,145 shares during the period. Sunbelt Securities Inc.’s holdings in Energy Transfer were worth $3,551,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ET. Financial Life Planners purchased a new position in Energy Transfer in the 3rd quarter valued at approximately $34,000. HHM Wealth Advisors LLC boosted its position in Energy Transfer by 54.4% during the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after purchasing an additional 800 shares in the last quarter. Core Alternative Capital acquired a new stake in Energy Transfer in the third quarter valued at $46,000. FSC Wealth Advisors LLC acquired a new stake in Energy Transfer in the second quarter valued at $50,000. Finally, Golden State Wealth Management LLC increased its position in shares of Energy Transfer by 38.9% in the third quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock valued at $50,000 after buying an additional 817 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.3%

Shares of ET stock opened at $18.79 on Wednesday. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $19.30. The company has a market capitalization of $64.65 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.03 and a beta of 0.63. The firm has a 50-day moving average price of $18.23 and a 200 day moving average price of $17.31. The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.09). The firm had revenue of $25.32 billion for the quarter, compared to analysts’ expectations of $23.56 billion. Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The business’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 earnings per share. Research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were issued a dividend of $0.335 per share. This represents a $1.34 annualized dividend and a dividend yield of 7.1%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, February 6th. Energy Transfer’s payout ratio is 110.74%.

Wall Street Analysts Forecast Growth

ET has been the subject of several research reports. Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Barclays restated an “overweight” rating and set a $22.00 target price (down from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Wednesday, January 7th. Wells Fargo & Company increased their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. Finally, TD Cowen raised their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.60.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.