Kingswood Wealth Advisors LLC Boosts Holdings in Energy Transfer LP (NYSE:ET)

Kingswood Wealth Advisors LLC grew its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 315.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 411,666 shares of the pipeline company's stock after purchasing an additional 312,689 shares during the period. Kingswood Wealth Advisors LLC's holdings in Energy Transfer were worth $7,709,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of ET. Forvis Mazars Wealth Advisors LLC raised its position in Energy Transfer by 164.1% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company's stock valued at $1,186,000 after purchasing an additional 37,633 shares during the period. Wedbush Securities Inc. grew its stake in shares of Energy Transfer by 44.2% in the fourth quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company's stock valued at $2,650,000 after buying an additional 41,438 shares in the last quarter. Greenland Capital Management LP purchased a new stake in shares of Energy Transfer in the 4th quarter valued at $2,253,000. Edmond DE Rothschild Holding S.A. acquired a new position in Energy Transfer during the 4th quarter worth about $597,000. Finally, Bank of Montreal Can boosted its holdings in Energy Transfer by 12,090.8% during the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock valued at $244,005,000 after acquiring an additional 12,353,441 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Stock Down 0.3%

Energy Transfer stock traded down $0.05 during trading on Wednesday, reaching $17.88. The stock had a trading volume of 10,749,721 shares, compared to its average volume of 15,601,128. 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 52-week low of $14.60 and a 52-week high of $21.45. The stock has a market cap of $61.36 billion, a PE ratio of 13.55, a P/E/G ratio of 0.59 and a beta of 0.78. The business has a 50 day moving average price of $17.41 and a 200 day moving average price of $18.57.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion during the quarter, compared to analysts' expectations 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 for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. On average, analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were issued a dividend of $0.3275 per share. This represents a $1.31 dividend on an annualized basis and a yield of 7.33%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 9th. Energy Transfer's payout ratio is 99.24%.

Insider Transactions at Energy Transfer

In other 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 value of $25,299.12. Following the completion of the transaction, the director now owns 24,523 shares in the company, valued at approximately $453,185.04. This represents a 5.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.28% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on ET shares. Morgan Stanley boosted their price target 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. Citigroup restated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Wells Fargo & Company cut their target price on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Royal Bank Of Canada reissued an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. Finally, UBS Group restated a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $22.64.

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.