CW Advisors LLC Acquires New Holdings in Energy Transfer LP $ET

CW Advisors LLC acquired a new stake in Energy Transfer LP (NYSE:ET - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 39,067 shares of the pipeline company's stock, valued at approximately $728,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ET. Brighton Jones LLC raised its holdings in Energy Transfer by 93.4% in the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock valued at $481,000 after buying an additional 11,844 shares during the period. Lido Advisors LLC increased its stake in Energy Transfer by 2.9% during the fourth quarter. Lido Advisors LLC now owns 320,734 shares of the pipeline company's stock worth $6,283,000 after purchasing an additional 8,901 shares during the period. Bridgewealth Advisory Group LLC purchased a new stake in Energy Transfer during the fourth quarter worth about $243,000. Castalian Partners LLC purchased a new stake in Energy Transfer during the fourth quarter worth about $4,420,000. Finally, South Plains Financial Inc. purchased a new stake in Energy Transfer during the fourth quarter worth about $54,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ET shares. Wells Fargo & Company reiterated an "overweight" rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Cowen started coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating on the stock. JPMorgan Chase & Co. cut their price target on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Morgan Stanley cut their price target 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. Finally, Mizuho boosted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $22.50.

Insider Buying and Selling

In other Energy Transfer news, Director Kelcy L. Warren purchased 1,350,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the acquisition, the director directly owned 69,178,477 shares of the company's stock, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Richard Perry sold 1,369 shares of the company's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the transaction, the director directly owned 24,523 shares of the company's stock, valued at $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.28% of the company's stock.

Energy Transfer Stock Performance

Shares of ET opened at $17.59 on Wednesday. The stock has a 50 day moving average price of $17.66 and a 200 day moving average price of $17.85. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $60.36 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 0.92 and a beta of 0.83. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.32. The firm had revenue of $19.24 billion during the quarter, compared to the consensus estimate of $24.07 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 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 earnings per share. Research analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.5%. This is a positive change 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 currently 102.33%.

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.

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