Wealthspire Advisors LLC Grows Position in Energy Transfer LP $ET

Wealthspire Advisors LLC lifted its position in Energy Transfer LP (NYSE:ET) by 24.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,213 shares of the pipeline company’s stock after acquiring an additional 5,905 shares during the period. Wealthspire Advisors LLC’s holdings in Energy Transfer were worth $548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ET. Brighton Jones LLC lifted its position in Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after purchasing an additional 11,844 shares during the period. Bank of New York Mellon Corp raised its position in shares of Energy Transfer by 20.0% during the 1st quarter. Bank of New York Mellon Corp now owns 134,509 shares of the pipeline company’s stock worth $2,501,000 after purchasing an additional 22,457 shares during the last quarter. Madison Asset Management LLC acquired a new stake in shares of Energy Transfer in the first quarter worth approximately $567,000. AE Wealth Management LLC boosted its stake in shares of Energy Transfer by 12.7% in the first quarter. AE Wealth Management LLC now owns 101,699 shares of the pipeline company’s stock worth $1,891,000 after acquiring an additional 11,439 shares during the last quarter. Finally, Advisor OS LLC increased its position in shares of Energy Transfer by 2.8% during the first quarter. Advisor OS LLC now owns 49,935 shares of the pipeline company’s stock worth $928,000 after purchasing an additional 1,345 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren purchased 1,000,000 shares of the stock in a transaction dated Wednesday, November 19th. The stock was acquired at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the acquisition, the director owned 104,577,803 shares in the company, valued at $1,772,593,760.85. This trade represents a 0.97% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.28% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. Scotiabank lowered their price target on shares of Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a research report on Thursday, November 13th. UBS Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Wells Fargo & Company restated an “overweight” rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Finally, Weiss Ratings reaffirmed 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.08.

Energy Transfer Stock Performance

NYSE:ET opened at $16.52 on Friday. The company’s 50-day moving average is $16.90 and its two-hundred day moving average is $17.40. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The firm has a market capitalization of $56.72 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 1.01 and a beta of 0.76.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The firm had revenue of $19.95 billion for the quarter, compared to analyst estimates of $21.84 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 EPS. Analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Friday, November 7th were paid a $0.3325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.33 annualized dividend and a dividend yield of 8.1%. Energy Transfer’s dividend payout ratio is currently 106.40%.

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.