Energy Transfer LP (NYSE:ET) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 23.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 941,444 shares of the pipeline company's stock after purchasing an additional 176,812 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Energy Transfer were worth $17,501,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of 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 acquiring an additional 11,844 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Energy Transfer in the 4th quarter worth about $615,000. Wealthspire Advisors LLC raised its position in shares of Energy Transfer by 0.4% during the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company's stock worth $2,551,000 after purchasing an additional 535 shares during the last quarter. Forvis Mazars Wealth Advisors LLC raised its stake in Energy Transfer by 164.1% in the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company's stock valued at $1,186,000 after purchasing an additional 37,633 shares during the last quarter. Finally, MONECO Advisors LLC grew its stake in Energy Transfer by 11.3% in the 4th quarter. MONECO Advisors LLC now owns 44,449 shares of the pipeline company's stock worth $871,000 after acquiring an additional 4,502 shares during the period. Hedge funds and other institutional investors own 38.22% of the company's stock.

Energy Transfer Trading Down 0.4%

Shares of Energy Transfer stock opened at $17.81 on Monday. The business has a fifty day simple moving average of $17.50 and a 200-day simple moving average of $18.53. The firm has a market cap of $61.10 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 0.58 and a beta of 0.78. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.41.

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

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were given a $0.3275 dividend. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.36%. Energy Transfer's dividend payout ratio (DPR) is 99.24%.

Wall Street Analyst Weigh In

Several research firms recently commented on ET. Morgan Stanley upped their target price on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Wells Fargo & Company lowered their price target on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Mizuho raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. dropped their target price on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Energy Transfer presently has a consensus rating of "Moderate Buy" and an average price target of $22.64.

Insider Buying and Selling

In related news, Director James Richard Perry sold 1,369 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the sale, the director now directly owns 24,523 shares of the company's stock, valued at approximately $453,185.04. This represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.28% of the stock is currently owned by company insiders.

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.

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