LPL Financial LLC Has $110.77 Million Position in Energy Transfer LP (NYSE:ET)

Key Points

• LPL Financial LLC increased its stock position in Energy Transfer LP by 16.4%, now holding approximately 5.96 million shares worth over $110 million.
• Energy Transfer declared a $0.33 quarterly dividend, yielding 7.27%, with a payout ratio of 100%.
• Analysts have rated Energy Transfer with an average rating of "Moderate Buy" and a price target of $22.58, indicating positive sentiment despite mixed earnings reports.

LPL Financial LLC increased its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 16.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,958,384 shares of the pipeline company's stock after purchasing an additional 839,504 shares during the period. LPL Financial LLC owned 0.17% of Energy Transfer worth $110,766,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Capital A Wealth Management LLC bought a new stake in Energy Transfer in the fourth quarter worth $26,000. Fourth Dimension Wealth LLC purchased a new position in Energy Transfer in the 4th quarter worth approximately $29,000. HWG Holdings LP purchased a new stake in Energy Transfer during the 1st quarter valued at $38,000. Vermillion Wealth Management Inc. bought a new stake in Energy Transfer in the fourth quarter worth $46,000. Finally, Mascagni Wealth Management Inc. bought a new stake in shares of Energy Transfer during the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 38.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ET. Cowen began coverage on Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating for the company. TD Cowen started coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Mizuho increased 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. Finally, Wells Fargo & Company lowered their price objective on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.58.

Insider Transactions at Energy Transfer

In related news, Director James Richard Perry sold 1,369 shares of Energy Transfer 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 sale, the director owned 24,523 shares of the company's stock, valued at approximately $453,185.04. The trade was a 5.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.28% of the company's stock.

Energy Transfer Stock Down 0.6%

Shares of Energy Transfer stock traded down $0.10 during trading hours on Wednesday, hitting $18.06. 9,559,465 shares of the company's stock traded hands, compared to its average volume of 11,463,664. 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 twelve month low of $14.60 and a twelve month high of $21.45. The stock has a 50 day simple moving average of $17.79 and a 200-day simple moving average of $18.25. The company has a market cap of $61.98 billion, a PE ratio of 13.68, a PEG ratio of 0.94 and a beta of 0.79.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The firm had revenue of $21.02 billion for 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%. Energy Transfer's revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company posted $0.32 earnings per share. Equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th will be given a $0.33 dividend. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date is Friday, August 8th. This represents a $1.32 annualized dividend and a yield of 7.31%. Energy Transfer's payout ratio is 99.24%.

Energy Transfer Company 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.