Wealth Enhancement Advisory Services LLC Grows Stake in Energy Transfer LP (NYSE:ET)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 23.1% in the 1st quarter, according to its most recent disclosure with the SEC. 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 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ET. Brighton Jones LLC boosted its stake in Energy Transfer by 93.4% in the 4th 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 in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $615,000. Wealthspire Advisors LLC raised its holdings in Energy Transfer by 0.4% in the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company's stock worth $2,551,000 after acquiring an additional 535 shares during the last quarter. Forvis Mazars Wealth Advisors LLC raised its holdings 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 worth $1,186,000 after acquiring an additional 37,633 shares during the last quarter. Finally, MONECO Advisors LLC lifted its position in Energy Transfer by 11.3% in the 4th quarter. MONECO Advisors LLC now owns 44,449 shares of the pipeline company's stock valued at $871,000 after acquiring an additional 4,502 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

Insider Activity

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 transaction of $25,299.12. Following the completion of the sale, the director now owns 24,523 shares in the company, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.28% of the company's stock.

Energy Transfer Stock Performance

ET traded up $0.53 during midday trading on Thursday, reaching $18.20. The company had a trading volume of 14,037,866 shares, compared to its average volume of 15,725,882. The business has a 50-day moving average of $17.54 and a two-hundred day moving average of $18.51. 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 LP has a 1 year low of $14.60 and a 1 year high of $21.45. The company has a market cap of $62.45 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.57 and a beta of 0.78.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $22.28 billion. During the same period in the previous year, the company posted $0.32 EPS. The firm's revenue was down 2.8% on a year-over-year basis. As a group, 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a dividend yield of 7.20%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's dividend payout ratio (DPR) is presently 99.24%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ET. UBS Group restated a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Wells Fargo & Company lowered their price target on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Mizuho increased 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, 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 analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $22.64.

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.