Kingsman Wealth Management Inc. Takes $1.96 Million Position in Energy Transfer LP (NYSE:ET)

Kingsman Wealth Management Inc. acquired a new stake in Energy Transfer LP (NYSE:ET - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 105,357 shares of the pipeline company's stock, valued at approximately $1,959,000. Energy Transfer makes up 1.4% of Kingsman Wealth Management Inc.'s investment portfolio, making the stock its 17th largest position.

Several other hedge funds have also recently bought and sold shares of the company. United Advisor Group LLC lifted its stake in shares of Energy Transfer by 3.0% during the fourth quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company's stock worth $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 purchasing an additional 546 shares during the last quarter. Morton Capital Management LLC CA grew its holdings in 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 worth $862,000 after buying an additional 593 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings 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 buying an additional 596 shares in the last quarter. Finally, Fortis Capital Management LLC grew its holdings in Energy Transfer by 1.9% during the fourth 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. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of ET stock traded down $0.23 on Monday, hitting $17.25. 13,417,934 shares of the stock traded hands, compared to its average volume of 15,631,608. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The firm has a market cap of $59.18 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.90 and a beta of 0.79. The firm has a 50 day simple moving average of $17.83 and a two-hundred day simple moving average of $18.34. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92.

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 (EPS) for the quarter, beating 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 net margin of 5.88% and a return on equity of 11.47%. The company's revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. 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. Shareholders of record on Friday, May 9th were paid a $0.3275 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 7.60%. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's payout ratio is currently 99.24%.

Insider Buying and Selling at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of the stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the transaction, the director directly owned 24,523 shares in the company, valued at $453,185.04. This represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.28% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ET shares. TD Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating and a $22.00 price target for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Morgan Stanley increased their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. cut their price target on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 19th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $22.58.

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.