Wealth Enhancement Advisory Services LLC Acquires 22,053 Shares of Energy Transfer LP (NYSE:ET)

Wealth Enhancement Advisory Services LLC raised its position in Energy Transfer LP (NYSE:ET) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 718,823 shares of the pipeline company’s stock after purchasing an additional 22,053 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Energy Transfer were worth $11,537,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ET. LRI Investments LLC bought a new position in shares of Energy Transfer during the first quarter worth about $29,000. HWG Holdings LP bought a new position in shares of Energy Transfer during the second quarter worth about $33,000. Sugarloaf Wealth Management LLC raised its position in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares during the last quarter. Hudson Edge Investment Partners Inc. bought a new position in shares of Energy Transfer during the second quarter worth about $42,000. Finally, EdgeRock Capital LLC bought a new position in shares of Energy Transfer during the second quarter worth about $42,000. 38.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ET shares. Royal Bank of Canada raised their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. UBS Group raised their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Buy” and an average price target of $20.00.

Energy Transfer Trading Down 0.2 %

Shares of Energy Transfer stock opened at $16.38 on Wednesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. Energy Transfer LP has a 52 week low of $12.90 and a 52 week high of $16.64. The stock has a 50 day moving average price of $16.17 and a two-hundred day moving average price of $15.98. The stock has a market capitalization of $55.18 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.49 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same period last year, the business posted $0.25 EPS. The company’s revenue was up 13.1% on a year-over-year basis. As a group, equities analysts anticipate that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be issued a $0.3225 dividend. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 117.43%.

Insider Activity

In related news, Director Kelcy L. Warren bought 3,000,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Gregory G. Mcilwain bought 20,000 shares of the stock in a transaction on Friday, August 23rd. The shares were purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the purchase, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 3,040,000 shares of company stock worth $47,667,200 over the last 90 days. 3.28% of the stock is currently owned by corporate insiders.

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.