Prospera Financial Services Inc Has $18.80 Million Stake in Energy Transfer LP $ET

Prospera Financial Services Inc boosted its holdings in Energy Transfer LP (NYSE:ET) by 125.3% in the second quarter, Holdings Channel reports. The firm owned 1,036,611 shares of the pipeline company’s stock after purchasing an additional 576,572 shares during the quarter. Prospera Financial Services Inc’s holdings in Energy Transfer were worth $18,795,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ET. Tortoise Capital Advisors L.L.C. boosted its position in Energy Transfer by 2.6% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company’s stock valued at $710,240,000 after purchasing an additional 951,656 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Energy Transfer by 0.8% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company’s stock valued at $449,329,000 after buying an additional 182,705 shares during the last quarter. Energy Income Partners LLC grew its stake in shares of Energy Transfer by 12.0% in the first quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock valued at $429,802,000 after buying an additional 2,471,401 shares in the last quarter. Westwood Holdings Group Inc. raised its position in Energy Transfer by 2.8% during the first quarter. Westwood Holdings Group Inc. now owns 16,787,080 shares of the pipeline company’s stock worth $312,072,000 after acquiring an additional 455,860 shares in the last quarter. Finally, Chickasaw Capital Management LLC lifted its stake in Energy Transfer by 3.2% in the second quarter. Chickasaw Capital Management LLC now owns 16,158,771 shares of the pipeline company’s stock valued at $292,959,000 after acquiring an additional 502,240 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays reaffirmed an “overweight” rating and issued a $25.00 target price on shares of Energy Transfer in a report on Wednesday, October 15th. Morgan Stanley decreased their price objective on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Wells Fargo & Company reiterated an “overweight” rating and issued a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Finally, UBS Group reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Thirteen equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.23.

Energy Transfer Stock Down 2.6%

ET stock opened at $16.44 on Friday. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The business has a 50-day simple moving average of $17.04 and a 200 day simple moving average of $17.41. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The company has a market cap of $56.42 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm had revenue of $19.95 billion during the quarter, compared to the consensus estimate of $21.84 billion. During the same period last year, the business earned $0.32 earnings per share. The business’s revenue was down 3.9% compared to the same quarter last year. Sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th will be given a $0.3325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date is Friday, November 7th. Energy Transfer’s dividend payout ratio (DPR) is 106.40%.

Insider Activity

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

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.