Wealth Enhancement Advisory Services LLC Boosts Holdings in Energy Transfer LP (NYSE:ET)

Wealth Enhancement Advisory Services LLC raised its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 764,632 shares of the pipeline company's stock after purchasing an additional 45,809 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Energy Transfer were worth $14,979,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC raised 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 worth $481,000 after purchasing an additional 11,844 shares during the period. Blue Trust Inc. raised its holdings in Energy Transfer by 19.9% during the 4th quarter. Blue Trust Inc. now owns 14,128 shares of the pipeline company's stock worth $277,000 after buying an additional 2,345 shares during the period. Boyd Wealth Management LLC bought a new position in Energy Transfer in the fourth quarter valued at approximately $223,000. Caprock Group LLC bought a new position in Energy Transfer in the fourth quarter valued at approximately $1,119,000. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of Energy Transfer by 2.1% in the fourth quarter. Chicago Partners Investment Group LLC now owns 3,287,145 shares of the pipeline company's stock valued at $64,855,000 after buying an additional 66,856 shares during the period. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Stock Down 0.3%

Shares of NYSE ET traded down $0.06 during trading on Monday, hitting $17.43. 9,913,384 shares of the company traded hands, compared to its average volume of 15,480,228. The firm has a market capitalization of $59.80 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 0.64 and a beta of 0.77. The business's fifty day moving average is $17.30 and its 200 day moving average is $18.63. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data 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. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The firm had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. The business's revenue was down 2.8% on a year-over-year basis. Equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were paid a dividend of $0.3275 per share. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.52%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 9th. Energy Transfer's payout ratio is presently 99.24%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. Stifel Nicolaus lifted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Mizuho boosted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 20th. UBS Group restated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lowered 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. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $22.64.

Energy Transfer 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.