Wealth Enhancement Advisory Services LLC Buys 99,586 Shares of Energy Transfer LP $ET

Wealth Enhancement Advisory Services LLC boosted its stake in Energy Transfer LP (NYSE:ET) by 9.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,124,192 shares of the pipeline company’s stock after acquiring an additional 99,586 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Energy Transfer were worth $18,740,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC increased its position in shares of Energy Transfer by 1.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company’s stock worth $723,000 after buying an additional 565 shares during the period. Bogart Wealth LLC boosted its position in Energy Transfer by 1.9% during the second quarter. Bogart Wealth LLC now owns 32,788 shares of the pipeline company’s stock valued at $594,000 after acquiring an additional 604 shares during the last quarter. Chicago Capital LLC grew its holdings in Energy Transfer by 2.6% during the 2nd quarter. Chicago Capital LLC now owns 24,056 shares of the pipeline company’s stock worth $436,000 after acquiring an additional 618 shares during the period. Quantum Private Wealth LLC raised its position in shares of Energy Transfer by 0.5% in the 2nd quarter. Quantum Private Wealth LLC now owns 116,515 shares of the pipeline company’s stock worth $2,112,000 after acquiring an additional 627 shares in the last quarter. Finally, HBK Sorce Advisory LLC lifted its stake in shares of Energy Transfer by 3.4% in the 3rd quarter. HBK Sorce Advisory LLC now owns 19,018 shares of the pipeline company’s stock valued at $321,000 after purchasing an additional 628 shares during the period. Institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on ET. JPMorgan Chase & Co. lowered their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Morgan Stanley dropped their target price on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 2nd. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. Jefferies Financial Group set a $17.00 price target on shares of Energy Transfer and gave the company a “hold” rating in a research note on Tuesday, October 28th. Finally, Barclays reissued an “overweight” rating and set a $22.00 price objective (down previously from $25.00) on shares of Energy Transfer in a research report on Monday, January 12th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.50.

Energy Transfer Trading Up 1.1%

NYSE ET opened at $17.63 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50. The business has a fifty day simple moving average of $16.69 and a 200 day simple moving average of $17.06. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The firm has a market capitalization of $60.53 billion, a P/E ratio of 14.10, a PEG ratio of 0.91 and a beta of 0.66.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The business had revenue of $19.95 billion for the quarter, compared to analysts’ expectations of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share. On average, analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were paid a $0.3325 dividend. The ex-dividend date was Friday, November 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a yield of 7.5%. Energy Transfer’s dividend payout ratio is presently 106.40%.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren purchased 1,000,000 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The stock was bought at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the purchase, the director directly owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.28% of the stock is owned by corporate insiders.

About Energy Transfer

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.