Energy Transfer LP $ET Position Boosted by Olistico Wealth LLC

Olistico Wealth LLC increased its holdings in Energy Transfer LP (NYSE:ET) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,686 shares of the pipeline company’s stock after buying an additional 1,563 shares during the quarter. Olistico Wealth LLC’s holdings in Energy Transfer were worth $1,046,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Highland Capital Management LLC bought a new position in Energy Transfer in the 2nd quarter worth approximately $930,000. USAdvisors Wealth Management LLC grew its holdings in Energy Transfer by 14.8% in the 2nd quarter. USAdvisors Wealth Management LLC now owns 15,500 shares of the pipeline company’s stock worth $281,000 after buying an additional 2,000 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in Energy Transfer by 7.5% in the 2nd quarter. Checchi Capital Advisers LLC now owns 27,154 shares of the pipeline company’s stock worth $492,000 after buying an additional 1,884 shares in the last quarter. Barrett & Company Inc. grew its holdings in Energy Transfer by 47.5% in the 2nd quarter. Barrett & Company Inc. now owns 17,543 shares of the pipeline company’s stock worth $318,000 after buying an additional 5,651 shares in the last quarter. Finally, 1900 Wealth Management LLC grew its holdings in Energy Transfer by 1.8% in the 2nd quarter. 1900 Wealth Management LLC now owns 202,375 shares of the pipeline company’s stock worth $3,669,000 after buying an additional 3,585 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ET has been the subject of a number of research analyst reports. Scotiabank initiated coverage on Energy Transfer in a research report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research report on Saturday, September 27th. Morgan Stanley cut their target price on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Wells Fargo & Company restated an “overweight” rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Finally, Cowen initiated coverage on Energy Transfer in a research report on Monday, July 7th. They issued a “buy” rating for the company. Fourteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.50.

Insider Activity

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of Energy Transfer stock in a transaction dated Wednesday, August 20th. The stock was bought at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the acquisition, the director directly owned 69,178,477 shares of the company’s stock, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.28% of the stock is owned by insiders.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $16.83 on Friday. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The stock has a fifty day moving average of $17.47 and a 200-day moving average of $17.54. The company has a market capitalization of $57.78 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 0.99 and a beta of 0.78. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15.

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

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a $0.33 dividend. The ex-dividend date was Friday, August 8th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.8%. Energy Transfer’s dividend payout ratio is currently 102.33%.

Energy Transfer Profile

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.