Energy Transfer LP (NYSE:ET) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 2.8% in the first quarter, HoldingsChannel.com reports. The fund owned 549,971 shares of the pipeline company’s stock after purchasing an additional 15,097 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Energy Transfer were worth $8,651,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC increased its position in shares of Energy Transfer by 2.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 161,686 shares of the pipeline company’s stock worth $2,543,000 after purchasing an additional 4,216 shares during the last quarter. Sovereign Financial Group Inc. purchased a new stake in shares of Energy Transfer during the first quarter valued at approximately $187,000. Brookstone Capital Management lifted its position in shares of Energy Transfer by 3.2% during the first quarter. Brookstone Capital Management now owns 190,124 shares of the pipeline company’s stock worth $2,991,000 after purchasing an additional 5,894 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Energy Transfer by 37.2% in the first quarter. Sunbelt Securities Inc. now owns 268,275 shares of the pipeline company’s stock valued at $4,220,000 after purchasing an additional 72,802 shares during the period. Finally, CIC Wealth LLC acquired a new stake in Energy Transfer during the 1st quarter valued at $184,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on ET shares. JPMorgan Chase & Co. upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Morgan Stanley raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. UBS Group upped their target price on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Stifel Nicolaus raised their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Mizuho upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Stock Performance

Shares of ET opened at $16.22 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. Energy Transfer LP has a 12-month low of $12.46 and a 12-month high of $16.40. The business’s fifty day moving average price is $15.73 and its 200 day moving average price is $15.01. The stock has a market capitalization of $54.66 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 0.44 and a beta of 1.63.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). The business had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm posted $0.32 earnings per share. Equities research analysts forecast that Energy Transfer LP will post 1.45 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were given a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.82%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s dividend payout ratio is presently 116.51%.

About Energy Transfer

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.