Wealth Alliance Advisory Group LLC Has $1.12 Million Stake in Energy Transfer LP $ET

Key Points

• Wealth Alliance Advisory Group LLC increased its stake in Energy Transfer LP by 33.7%, owning 61,628 shares valued at approximately $1.12 million at the end of the second quarter.
• Energy Transfer has received positive ratings from analysts, with a consensus target price of $22.54, indicating a Moderate Buy sentiment among analysts.
• The company declared a quarterly dividend of $0.33, reflecting a yield of 7.6%, despite having a payout ratio of 102.33%.

Wealth Alliance Advisory Group LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 33.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,628 shares of the pipeline company's stock after acquiring an additional 15,523 shares during the quarter. Wealth Alliance Advisory Group LLC's holdings in Energy Transfer were worth $1,117,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new stake in Energy Transfer during the fourth quarter worth about $26,000. Fourth Dimension Wealth LLC acquired a new stake in Energy Transfer during the fourth quarter worth about $29,000. Vision Financial Markets LLC acquired a new stake in Energy Transfer during the first quarter worth about $33,000. HWG Holdings LP acquired a new stake in Energy Transfer during the first quarter worth about $38,000. Finally, Stone House Investment Management LLC acquired a new stake in Energy Transfer during the first quarter worth about $38,000. Institutional investors and hedge funds own 38.22% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ET shares. Morgan Stanley dropped 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 note on Tuesday, August 26th. Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating on the stock. Mizuho raised their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. TD Cowen assumed coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective for the company. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $22.54.

Insider Buying and Selling

In other news, Director Kelcy L. Warren bought 1,350,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the acquisition, the director directly owned 69,178,477 shares of the company's stock, valued at $1,200,938,360.72. The trade was a 1.99% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.28% of the stock is owned by company insiders.

Energy Transfer Trading Down 0.2%

Energy Transfer stock traded down $0.04 during midday trading on Friday, reaching $17.45. The stock had a trading volume of 7,300,533 shares, compared to its average volume of 10,422,809. The firm's fifty day simple moving average is $17.55 and its two-hundred day simple moving average is $17.65. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The firm has a market cap of $59.90 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.99 and a beta of 0.85.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.32. The company had revenue of $19.24 billion during the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company's revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. Equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were issued a $0.33 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. This represents a $1.32 annualized dividend and a yield of 7.6%. Energy Transfer's payout ratio is 102.33%.

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.