Energy Transfer LP $ET Shares Bought by Focus Partners Wealth

Focus Partners Wealth lifted its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 275,698 shares of the pipeline company's stock after acquiring an additional 29,404 shares during the period. Focus Partners Wealth's holdings in Energy Transfer were worth $5,125,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital A Wealth Management LLC bought a new position in Energy Transfer during the 4th quarter worth $26,000. Fourth Dimension Wealth LLC bought a new position in Energy Transfer during the fourth quarter valued at about $29,000. Vision Financial Markets LLC bought a new position in Energy Transfer during the first quarter valued at about $33,000. HWG Holdings LP bought a new position in Energy Transfer during the first quarter valued at about $38,000. Finally, Stone House Investment Management LLC purchased a new stake in shares of Energy Transfer during the first quarter valued at $38,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Down 0.2%

NYSE ET opened at $17.45 on Monday. The stock has a fifty day moving average of $17.55 and a 200-day moving average of $17.65. The stock has a market capitalization of $59.90 billion, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15.

Energy Transfer (NYSE:ET - Get Free Report) last released its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The company had revenue of $19.24 billion during the quarter, compared to analysts' expectations of $24.07 billion. During the same period last year, the firm earned $0.35 EPS. The business's revenue for the quarter was down 7.2% on a year-over-year basis. On average, equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors 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 dividend yield of 7.6%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer's payout ratio is presently 102.33%.

Analyst Ratings Changes

ET has been the subject of several research analyst reports. 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 research note on Tuesday, August 12th. Morgan Stanley lowered 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. TD Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 target price on the stock. Mizuho raised their target price on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Finally, Cowen initiated coverage on Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating for the company. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.54.

Insider Activity at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of Energy Transfer stock in a transaction on Wednesday, August 20th. The shares were purchased at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the acquisition, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 3.28% of the stock is currently owned by company insiders.

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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