Kestra Private Wealth Services LLC Grows Stake in Energy Transfer LP (NYSE:ET)

Kestra Private Wealth Services LLC grew its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 21.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216,314 shares of the pipeline company's stock after purchasing an additional 38,792 shares during the period. Kestra Private Wealth Services LLC's holdings in Energy Transfer were worth $4,021,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ET. United Advisor Group LLC increased its stake in Energy Transfer by 3.0% during the 4th quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company's stock valued at $363,000 after purchasing an additional 534 shares in the last quarter. Cannell & Spears LLC grew its holdings in shares of Energy Transfer by 0.4% during the fourth quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company's stock valued at $2,657,000 after buying an additional 546 shares during the last quarter. Morton Capital Management LLC CA increased its position in shares of Energy Transfer by 1.3% in the 1st quarter. Morton Capital Management LLC CA now owns 46,382 shares of the pipeline company's stock valued at $862,000 after acquiring an additional 593 shares during the period. OneDigital Investment Advisors LLC raised its stake in Energy Transfer by 3.0% in the 4th quarter. OneDigital Investment Advisors LLC now owns 20,389 shares of the pipeline company's stock worth $399,000 after acquiring an additional 596 shares during the last quarter. Finally, Fortis Capital Management LLC lifted its position in Energy Transfer by 1.9% during the 4th quarter. Fortis Capital Management LLC now owns 32,556 shares of the pipeline company's stock worth $638,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 38.22% of the company's stock.

Analyst Ratings Changes

ET has been the topic of a number of research reports. Royal Bank Of Canada reissued an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a report on Tuesday, March 25th. Mizuho increased their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. decreased their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. TD Cowen started coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective on the stock. Finally, Morgan Stanley increased their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Energy Transfer presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.58.

Energy Transfer Stock Down 0.3%

ET stock opened at $17.48 on Monday. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. 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 firm's fifty day moving average is $17.83 and its 200 day moving average is $18.34. The firm has a market cap of $59.99 billion, a PE ratio of 13.24, a P/E/G ratio of 0.90 and a beta of 0.79.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. Energy Transfer's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 EPS. On average, research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current 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 given a dividend of $0.3275 per share. 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 7.49%. Energy Transfer's dividend payout ratio (DPR) is 99.24%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the completion of the transaction, the director directly owned 24,523 shares in the company, valued at approximately $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate 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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