Advisor Resource Council Makes New $738,000 Investment in Energy Transfer LP (NYSE:ET)

Advisor Resource Council bought a new stake in shares of Energy Transfer LP (NYSE:ET - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 39,717 shares of the pipeline company's stock, valued at approximately $738,000.

Several other hedge funds also recently bought and sold shares of ET. Mountain Hill Investment Partners Corp. purchased a new stake in Energy Transfer during the 4th quarter worth about $25,000. Capital A Wealth Management LLC purchased a new stake in shares of Energy Transfer during the fourth quarter worth about $26,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Energy Transfer during the fourth quarter worth about $29,000. United Community Bank purchased a new stake in shares of Energy Transfer during the fourth quarter worth about $35,000. Finally, Tortoise Investment Management LLC grew its holdings in shares of Energy Transfer by 111.1% during the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock worth $37,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company's stock.

Insider Activity at Energy Transfer

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the transaction, the director now directly owns 24,523 shares in the company, valued at $453,185.04. This represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.28% of the stock is currently owned by company insiders.

Energy Transfer Stock Down 0.4%

Energy Transfer stock traded down $0.08 during trading on Friday, reaching $17.81. 15,895,570 shares of the company's stock were exchanged, compared to its average volume of 15,680,861. The company's 50-day moving average is $17.50 and its two-hundred day moving average is $18.53. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.92 and a current ratio of 1.12. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The firm has a market cap of $61.10 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.58 and a beta of 0.78.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The company's revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 earnings per share. On average, analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were given a $0.3275 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a yield of 7.36%. The ex-dividend date was Friday, May 9th. Energy Transfer's dividend payout ratio is presently 99.24%.

Analyst Upgrades and Downgrades

Several analysts have commented on ET shares. JPMorgan Chase & Co. lowered their target price on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Mizuho lifted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Morgan Stanley lifted their price target on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. UBS Group restated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $23.00 target price on shares of Energy Transfer in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $22.64.

Energy Transfer Company 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.