Wagner Wealth Management LLC Makes New $480,000 Investment in Energy Transfer LP $ET

Key Points

• Wagner Wealth Management LLC has made a new investment of $480,000 in Energy Transfer LP by acquiring 26,477 shares in the second quarter.
• Energy Transfer recently announced a quarterly dividend increase to $0.33 per share, resulting in a 7.6% dividend yield.
• The company reported flat earnings of $0.32 per share and a revenue drop of 7.2% year-over-year in its latest earnings report.

Wagner Wealth Management LLC bought a new stake in Energy Transfer LP (NYSE:ET - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 26,477 shares of the pipeline company's stock, valued at approximately $480,000.

Several other hedge funds have also recently bought and sold shares of the company. Alps Advisors Inc. raised its holdings in Energy Transfer by 12.9% during the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock worth $1,400,831,000 after buying an additional 8,613,645 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in shares of Energy Transfer by 2.6% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company's stock worth $710,240,000 after purchasing an additional 951,656 shares during the period. Kayne Anderson Capital Advisors LP boosted its stake in Energy Transfer by 0.8% during the first quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company's stock worth $449,329,000 after buying an additional 182,705 shares during the period. Energy Income Partners LLC raised its holdings in Energy Transfer by 12.0% in the first quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company's stock worth $429,802,000 after purchasing an additional 2,471,401 shares in the last quarter. Finally, Westwood Holdings Group Inc. lifted its holdings in Energy Transfer by 2.8% in the first quarter. Westwood Holdings Group Inc. now owns 16,787,080 shares of the pipeline company's stock valued at $312,072,000 after acquiring an additional 455,860 shares during the period. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Up 0.3%

NYSE ET opened at $17.46 on Friday. The business has a 50 day moving average price of $17.52 and a two-hundred day moving average price of $17.59. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The stock has a market cap of $59.93 billion, a PE ratio of 13.53, a P/E/G ratio of 1.03 and a beta of 0.85. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts' consensus estimates of $0.32. The firm had revenue of $19.24 billion during the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business's quarterly revenue was down 7.2% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS. As a group, sell-side analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were given a dividend of $0.33 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a dividend yield of 7.6%. The ex-dividend date was Friday, August 8th. Energy Transfer's dividend payout ratio (DPR) is currently 102.33%.

Insider Buying and Selling

In related news, Director Kelcy L. Warren acquired 1,350,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was acquired at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the acquisition, the director directly owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. This represents a 1.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ET has been the topic of several research analyst reports. Scotiabank initiated coverage on Energy Transfer in a research report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 price target on the stock. Cowen started coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating on the stock. TD Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 price target for the company. Wells Fargo & Company reiterated an "overweight" rating and set a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Finally, Morgan Stanley decreased their price objective on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 26th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.50.

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.

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