Arkadios Wealth Advisors Acquires 3,053 Shares of Energy Transfer LP $ET

Arkadios Wealth Advisors increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 2.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 124,596 shares of the pipeline company’s stock after acquiring an additional 3,053 shares during the period. Arkadios Wealth Advisors’ holdings in Energy Transfer were worth $2,259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Energy Transfer by 1.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company’s stock worth $723,000 after acquiring an additional 565 shares during the last quarter. Indiana Trust & Investment Management Co increased its holdings in Energy Transfer by 5.1% during the 1st quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company’s stock worth $219,000 after purchasing an additional 576 shares during the period. Beam Wealth Advisors Inc. increased its holdings in Energy Transfer by 1.5% during the 1st quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company’s stock worth $742,000 after purchasing an additional 585 shares during the period. Bogart Wealth LLC increased its holdings in Energy Transfer by 1.9% during the 2nd quarter. Bogart Wealth LLC now owns 32,788 shares of the pipeline company’s stock worth $594,000 after purchasing an additional 604 shares during the period. Finally, MCF Advisors LLC increased its holdings in Energy Transfer by 7.2% during the 2nd quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 616 shares during the period. 38.22% of the stock is owned by institutional investors.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of Energy Transfer stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the transaction, the director directly owned 69,178,477 shares of the company’s stock, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.28% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on ET shares. TD Cowen started coverage on Energy Transfer in a report on Monday, July 7th. They set a “buy” rating and a $22.00 price objective on the stock. Morgan Stanley reduced their price objective on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Barclays restated an “overweight” rating and set a $25.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Scotiabank assumed coverage on Energy Transfer in a report on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price objective on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. Thirteen 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, the company has a consensus rating of “Moderate Buy” and an average price target of $22.23.

Energy Transfer Trading Down 0.9%

NYSE:ET opened at $16.77 on Friday. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The firm has a 50 day moving average of $17.14 and a 200 day moving average of $17.42. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $57.57 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.01 and a beta of 0.78.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analyst estimates of $24.07 billion. During the same period in the prior year, the company posted $0.35 EPS. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Investors of record on Friday, November 7th will be given a dividend of $0.3325 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.33 annualized dividend and a yield of 7.9%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is currently 102.33%.

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.