Arista Wealth Management LLC Purchases New Position in Energy Transfer LP $ET

Key Points

• Arista Wealth Management LLC recently acquired 18,996 shares of Energy Transfer LP, valued at approximately $344,000, marking a significant investment in the company.
• Energy Transfer has received multiple analyst ratings, with a consensus of thirteen analysts giving a "Buy" rating and an average price target of $22.67.
• The company raised its quarterly dividend to $0.33 per share, indicating an annualized yield of 8.0% despite a dividend payout ratio of 102.33%.

Arista Wealth Management LLC purchased a new stake in shares of Energy Transfer LP (NYSE:ET - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,996 shares of the pipeline company's stock, valued at approximately $344,000.

Several other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC grew its holdings in Energy Transfer by 93.4% in 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. GAMMA Investing LLC grew its holdings in Energy Transfer by 1,139.3% in the first quarter. GAMMA Investing LLC now owns 18,590 shares of the pipeline company's stock valued at $346,000 after purchasing an additional 17,090 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Energy Transfer by 23.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 941,444 shares of the pipeline company's stock valued at $17,501,000 after purchasing an additional 176,812 shares during the period. Janney Montgomery Scott LLC grew its holdings in Energy Transfer by 2.2% in the first quarter. Janney Montgomery Scott LLC now owns 624,361 shares of the pipeline company's stock valued at $11,607,000 after purchasing an additional 13,434 shares during the period. Finally, Cornerstone Wealth Management LLC grew its holdings in Energy Transfer by 4.3% in the first quarter. Cornerstone Wealth Management LLC now owns 46,240 shares of the pipeline company's stock valued at $860,000 after purchasing an additional 1,918 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on ET shares. Scotiabank started coverage on Energy Transfer in a report on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 price objective on the stock. Barclays reissued an "overweight" rating and issued a $25.00 price objective on shares of Energy Transfer in a report on Wednesday. Morgan Stanley dropped their price objective on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Wells Fargo & Company reissued an "overweight" rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Finally, Cowen initiated coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating on the stock. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Energy Transfer currently has an average rating of "Moderate Buy" and an average price target of $22.67.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $16.44 on Friday. 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 business's 50 day moving average price is $17.23 and its 200-day moving average price is $17.39. The firm has a market capitalization of $56.43 billion, a PE ratio of 12.74, a P/E/G ratio of 0.98 and a beta of 0.78. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. The firm had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business's revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. As a group, equities research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 8.0%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer's dividend payout ratio is presently 102.33%.

Insiders Place Their Bets

In related news, Director Kelcy L. Warren acquired 1,350,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were bought at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the purchase, the director owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.28% of the company's stock.

About Energy Transfer

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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