Atria Wealth Solutions Inc. Increases Position in Energy Transfer LP (NYSE:ET)

Atria Wealth Solutions Inc. raised its position in Energy Transfer LP (NYSE:ET) by 12.0% during the fourth quarter, Holdings Channel reports. The firm owned 525,578 shares of the pipeline company’s stock after buying an additional 56,173 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Energy Transfer were worth $7,253,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Mutual Advisors LLC increased its position in shares of Energy Transfer by 112.9% during the fourth quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company’s stock worth $2,028,000 after acquiring an additional 77,938 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Energy Transfer by 230.9% during the third quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock worth $10,335,000 after acquiring an additional 513,989 shares during the period. Arkadios Wealth Advisors increased its position in shares of Energy Transfer by 3.3% during the fourth quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock worth $390,000 after acquiring an additional 903 shares during the period. Fractal Investments LLC increased its holdings in Energy Transfer by 12.9% in the third quarter. Fractal Investments LLC now owns 5,682,061 shares of the pipeline company’s stock valued at $79,719,000 after buying an additional 647,885 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. increased its holdings in Energy Transfer by 22.5% in the third quarter. Cutter & CO Brokerage Inc. now owns 421,372 shares of the pipeline company’s stock valued at $5,912,000 after buying an additional 77,352 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on ET. Mizuho reissued a “buy” rating and issued a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Citigroup upped their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, UBS Group decreased their price objective on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.00.

Energy Transfer Stock Performance

Shares of ET traded down $0.05 during mid-day trading on Friday, hitting $15.89. 667,283 shares of the company’s stock were exchanged, compared to its average volume of 12,223,693. Energy Transfer LP has a fifty-two week low of $12.18 and a fifty-two week high of $16.04. The firm has a market capitalization of $53.54 billion, a P/E ratio of 14.63 and a beta of 1.64. The business’s 50 day moving average is $15.33 and its two-hundred day moving average is $14.31. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The business had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts expect that Energy Transfer LP will post 1.48 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be paid a dividend of $0.317 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, May 10th. This represents a $1.27 annualized dividend and a dividend yield of 7.98%. Energy Transfer’s dividend payout ratio is 115.60%.

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.