Energy Transfer LP $ET Stake Raised by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 3.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 221,161 shares of the pipeline company’s stock after acquiring an additional 7,630 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Energy Transfer were worth $4,010,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Ryan Investment Management Inc. acquired a new stake in Energy Transfer during the second quarter valued at approximately $31,000. Vision Financial Markets LLC bought a new position in shares of Energy Transfer in the first quarter valued at $33,000. CNB Bank lifted its position in shares of Energy Transfer by 111.1% during the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 1,000 shares during the last quarter. Stone House Investment Management LLC acquired a new stake in shares of Energy Transfer during the 1st quarter valued at $38,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Energy Transfer during the 1st quarter worth $40,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of ET opened at $16.96 on Tuesday. The business’s 50-day moving average is $16.94 and its 200-day moving average is $17.40. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The company has a market capitalization of $58.22 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 1.01 and a beta of 0.76. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45.

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

Energy Transfer Increases Dividend

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

Insider Buying and Selling at Energy Transfer

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 stock was acquired at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the acquisition, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ET shares. Morgan Stanley cut their target price on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Barclays reissued an “overweight” rating and issued a $25.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. Jefferies Financial Group set a $17.00 target price on shares of Energy Transfer and gave the stock a “hold” rating in a report on Tuesday, October 28th. Wells Fargo & Company reissued an “overweight” rating and issued a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.08.

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.