J.W. Cole Advisors Inc. Grows Position in Energy Transfer LP (NYSE:ET)

J.W. Cole Advisors Inc. lifted its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 147.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 218,978 shares of the pipeline company's stock after purchasing an additional 130,339 shares during the quarter. J.W. Cole Advisors Inc.'s holdings in Energy Transfer were worth $4,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Mountain Hill Investment Partners Corp. purchased a new position in shares of Energy Transfer in the 4th quarter valued at about $25,000. Capital A Wealth Management LLC purchased a new stake in Energy Transfer during the fourth quarter worth $26,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Energy Transfer in the fourth quarter valued at $29,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer in the first quarter valued at $38,000. Finally, Vermillion Wealth Management Inc. acquired a new position in Energy Transfer in the fourth quarter valued at $46,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Down 0.3%

Shares of ET opened at $17.48 on Monday. The firm has a market capitalization of $59.99 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.90 and a beta of 0.79. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.92 and a current ratio of 1.12. The business's fifty day moving average price is $17.83 and its two-hundred day moving average price is $18.34. 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 issued its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The firm's revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.32 EPS. On average, analysts predict 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 was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were paid a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a yield of 7.49%. The ex-dividend date was Friday, May 9th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is presently 99.24%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Mizuho upped their price target on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. Morgan Stanley lifted their target price on Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report 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 on the stock in a report on Wednesday, May 7th. Finally, Cowen initiated coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.58.

Insider Buying and Selling

In related 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 transaction of $25,299.12. Following the sale, the director owned 24,523 shares of the company's stock, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.28% of the company's stock.

About Energy Transfer

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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