Geneos Wealth Management Inc. Raises Stock Holdings in Energy Transfer LP (NYSE:ET)

Key Points

• Geneos Wealth Management Inc. increased its position in Energy Transfer LP by 82.9%, acquiring 48,751 additional shares in the 1st quarter, valued at approximately $2.18 million.
• Institutional investors and hedge funds now control 38.22% of Energy Transfer's stock, with several firms, including United Advisor Group LLC and Morton Capital Management LLC, recently boosting their holdings.
• Energy Transfer declared a quarterly dividend of $0.33 per share, representing a 7.31% dividend yield, which is an increase from the previous dividend payout.

Geneos Wealth Management Inc. lifted its position in Energy Transfer LP (NYSE:ET - Free Report) by 82.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,548 shares of the pipeline company's stock after purchasing an additional 48,751 shares during the quarter. Geneos Wealth Management Inc.'s holdings in Energy Transfer were worth $2,179,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Capital A Wealth Management LLC bought a new stake in Energy Transfer during the fourth quarter worth approximately $26,000. Fourth Dimension Wealth LLC bought a new position in shares of Energy Transfer during the fourth quarter valued at approximately $29,000. HWG Holdings LP bought a new position in shares of Energy Transfer during the first quarter valued at approximately $38,000. N.E.W. Advisory Services LLC bought a new position in shares of Energy Transfer during the first quarter valued at approximately $40,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Energy Transfer during the fourth quarter valued at approximately $46,000. 38.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ET has been the topic of a number of analyst reports. Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating on the stock. TD Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 price target for the company. 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 report on Wednesday, May 7th. JPMorgan Chase & Co. lowered their price target on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Finally, Mizuho boosted their price target on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Energy Transfer currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.58.

Energy Transfer Stock Down 0.1%

NYSE ET traded down $0.02 during midday trading on Thursday, hitting $18.03. 13,628,308 shares of the company traded hands, compared to its average volume of 11,356,170. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. The company has a market cap of $61.87 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 0.94 and a beta of 0.79. The company's 50-day simple moving average is $17.79 and its 200-day simple moving average is $18.24. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45.

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

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date of this dividend is Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is 99.24%.

Insider Buying and Selling at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of the firm's stock in a transaction on 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 owned 24,523 shares of the company's stock, valued at $453,185.04. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.28% of the stock is owned by 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.