Kingswood Wealth Advisors LLC Buys 41,178 Shares of Energy Transfer LP $ET

Kingswood Wealth Advisors LLC increased its position in Energy Transfer LP (NYSE:ET) by 109.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,949 shares of the pipeline company’s stock after acquiring an additional 41,178 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Energy Transfer were worth $1,355,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ET. Ryan Investment Management Inc. purchased a new stake in shares of Energy Transfer in the second quarter worth $31,000. CNB Bank boosted its holdings in Energy Transfer by 111.1% in the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after buying an additional 1,000 shares during the period. HHM Wealth Advisors LLC increased its stake in Energy Transfer by 54.4% in the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after buying an additional 800 shares in the last quarter. Crowley Wealth Management Inc. bought a new stake in Energy Transfer during the second quarter valued at about $44,000. Finally, FSC Wealth Advisors LLC purchased a new position in shares of Energy Transfer in the second quarter valued at about $50,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Insider Transactions at Energy Transfer

In related news, Director Kelcy L. Warren acquired 1,000,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were acquired at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the transaction, the director directly owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.28% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Energy Transfer in a research note on Wednesday, December 24th. Barclays reissued an “overweight” rating and issued a $25.00 price target on shares of Energy Transfer in a report on Wednesday, October 15th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Wednesday. Jefferies Financial Group set a $17.00 price objective on shares of Energy Transfer and gave the company a “hold” rating in a research report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Monday, November 24th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.75.

Energy Transfer Price Performance

Energy Transfer stock opened at $16.97 on Friday. The company has a market cap of $58.25 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 0.88 and a beta of 0.66. The firm’s fifty day moving average is $16.58 and its 200 day moving average is $17.10. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The business had revenue of $19.95 billion during the quarter, compared to analysts’ expectations of $21.84 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The business’s quarterly revenue was down 3.9% on a year-over-year basis. Sell-side analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were paid a dividend of $0.3325 per share. The ex-dividend date of this dividend was Friday, November 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 annualized dividend and a yield of 7.8%. Energy Transfer’s payout ratio is presently 106.40%.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.