Symphony Financial Services Inc. Invests $459,000 in Energy Transfer LP $ET

Symphony Financial Services Inc. purchased a new stake in shares of Energy Transfer LP (NYSE:ET) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 26,773 shares of the pipeline company’s stock, valued at approximately $459,000.

A number of other large investors have also added to or reduced their stakes in ET. HHM Wealth Advisors LLC increased its position in shares of Energy Transfer by 54.4% in the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after acquiring an additional 800 shares during the period. Core Alternative Capital bought a new stake in shares of Energy Transfer in the third quarter worth about $46,000. FSC Wealth Advisors LLC bought a new stake in shares of Energy Transfer in the second quarter worth about $50,000. Clearstead Trust LLC purchased a new position in Energy Transfer during the 3rd quarter valued at about $50,000. Finally, Golden State Wealth Management LLC increased its holdings in Energy Transfer by 38.9% during the 3rd quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock valued at $50,000 after purchasing an additional 817 shares during the period. Institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on ET shares. Jefferies Financial Group reaffirmed a “hold” rating on shares of Energy Transfer in a research report on Wednesday, February 18th. TD Cowen upped their target price on Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Morgan Stanley dropped their price target on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, December 2nd. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Wednesday, January 7th. Finally, Scotiabank restated an “outperform” rating on shares of Energy Transfer in a report on Friday, January 16th. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.20.

Energy Transfer Price Performance

Shares of ET stock opened at $18.86 on Wednesday. The business’s fifty day moving average is $17.78 and its 200 day moving average is $17.23. The company has a quick ratio of 0.90, a current ratio of 1.22 and a debt-to-equity ratio of 1.50. The stock has a market cap of $64.88 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.01 and a beta of 0.63. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $19.30.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). The firm had revenue of $25.32 billion for the quarter, compared to analysts’ expectations of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The business’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 EPS. Research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Friday, February 6th were paid a dividend of $0.335 per share. The ex-dividend date of this dividend was Friday, February 6th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a yield of 7.1%. Energy Transfer’s payout ratio is presently 110.74%.

About Energy Transfer

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.