HB Wealth Management LLC Has $3.45 Million Holdings in Energy Transfer LP (NYSE:ET)

Key Points

• HB Wealth Management LLC increased its holdings in Energy Transfer LP by 21.8% during the first quarter, reaching a total of 185,760 shares valued at $3,453,000.
• Energy Transfer recently announced a quarterly dividend of $0.33 per share, representing an annualized yield of 7.45%, with a payout ratio of 99.24%.
• Analysts have issued a consensus rating of "Moderate Buy" for Energy Transfer stock, with a consensus price target of $22.58.

HB Wealth Management LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 21.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 185,760 shares of the pipeline company's stock after acquiring an additional 33,231 shares during the period. HB Wealth Management LLC's holdings in Energy Transfer were worth $3,453,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Bank of Montreal Can boosted its position in Energy Transfer by 12,090.8% in the fourth quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock valued at $244,005,000 after buying an additional 12,353,441 shares in the last quarter. Alps Advisors Inc. boosted its position in Energy Transfer by 12.9% in the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock valued at $1,400,831,000 after buying an additional 8,613,645 shares in the last quarter. FMR LLC boosted its position in Energy Transfer by 15.7% in the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after buying an additional 5,254,721 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new position in Energy Transfer in the fourth quarter valued at about $79,113,000. Finally, Hsbc Holdings PLC bought a new position in shares of Energy Transfer in the fourth quarter worth about $50,166,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Energy Transfer news, 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 sale, the director owned 24,523 shares of the company's stock, valued at approximately $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.28% of the company's stock.

Energy Transfer Trading Up 0.4%

Shares of ET traded up $0.07 on Monday, reaching $17.79. 12,677,090 shares of the company's stock were exchanged, compared to its average volume of 11,398,178. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $61.05 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 0.92 and a beta of 0.79. The business has a 50 day moving average price of $17.78 and a two-hundred day moving average price of $18.26. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45.

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

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 7.42%. The ex-dividend date is Friday, August 8th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is presently 99.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ET shares. JPMorgan Chase & Co. dropped 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 boosted their target price 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. TD Cowen started coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 target price for the company. Wells Fargo & Company dropped their target price on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Finally, Cowen started coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating for the company. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.58.

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.