ORG Wealth Partners LLC Increases Position in Energy Transfer LP (NYSE:ET)

ORG Wealth Partners LLC increased its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 11.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 408,712 shares of the pipeline company's stock after acquiring an additional 43,472 shares during the period. Energy Transfer comprises 2.5% of ORG Wealth Partners LLC's holdings, making the stock its 3rd largest holding. ORG Wealth Partners LLC's holdings in Energy Transfer were worth $7,655,000 at the end of the most recent reporting period.

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

Energy Transfer Trading Down 0.7%

ET traded down $0.12 during trading on Friday, hitting $17.76. The company's stock had a trading volume of 4,898,912 shares, compared to its average volume of 15,587,749. The firm has a market capitalization of $60.95 billion, a P/E ratio of 13.46, a PEG ratio of 0.58 and a beta of 0.78. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The stock's fifty day moving average price is $17.47 and its 200-day moving average price is $18.55. 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 (NYSE:ET - Get Free Report) last released its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The company 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%. Energy Transfer's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. Analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were paid a $0.3275 dividend. The ex-dividend date was Friday, May 9th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a dividend yield of 7.38%. Energy Transfer's dividend payout ratio (DPR) is currently 99.24%.

Insider Activity at Energy Transfer

In related news, Director James Richard Perry sold 1,369 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the transaction, the director now directly owns 24,523 shares in the company, valued at $453,185.04. This trade represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.28% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered 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. Morgan Stanley upped 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. Mizuho increased their target price on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Royal Bank Of Canada reissued an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Wells Fargo & Company reduced 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. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.