Kingsview Wealth Management LLC grew its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 30.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,042 shares of the pipeline company's stock after purchasing an additional 57,184 shares during the quarter. Kingsview Wealth Management LLC's holdings in Energy Transfer were worth $3,885,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Tortoise Capital Advisors L.L.C. boosted its stake in Energy Transfer by 12.7% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company's stock worth $594,769,000 after buying an additional 4,141,715 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Energy Transfer by 1,491.0% during the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company's stock worth $67,020,000 after buying an additional 3,913,266 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company's stock worth $153,787,000 after buying an additional 3,013,973 shares during the last quarter. Pathway Financial Advisers LLC raised its position in shares of Energy Transfer by 1,837.4% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company's stock valued at $21,489,000 after buying an additional 1,269,778 shares during the period. Finally, Merewether Investment Management LP lifted its holdings in Energy Transfer by 22.3% in the second quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company's stock valued at $106,919,000 after acquiring an additional 1,200,501 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.
Energy Transfer Stock Down 0.5 %
NYSE:ET traded down $0.10 during midday trading on Monday, reaching $18.97. The company had a trading volume of 20,592,096 shares, compared to its average volume of 13,679,849. Energy Transfer LP has a 12-month low of $13.11 and a 12-month high of $19.35. The firm has a market capitalization of $64.95 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.61 and a beta of 1.66. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The stock's fifty day simple moving average is $16.66 and its 200-day simple moving average is $16.18.
Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to analysts' expectations of $21.59 billion. During the same quarter last year, the company earned $0.31 earnings per share. The firm's revenue was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.
Energy Transfer Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 6.80%. The ex-dividend date was Friday, November 8th. Energy Transfer's dividend payout ratio (DPR) is 94.85%.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. UBS Group increased their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 price objective on the stock. Finally, Royal Bank of Canada lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $20.00.
Get Our Latest Research Report on Energy Transfer
Energy Transfer Company Profile
(
Free Report)
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.
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