Energy Transfer LP (NYSE:ET) Stake Reduced by WCG Wealth Advisors LLC

WCG Wealth Advisors LLC trimmed its stake in Energy Transfer LP (NYSE:ET) by 11.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 13,163 shares of the pipeline company’s stock after selling 1,725 shares during the quarter. WCG Wealth Advisors LLC’s holdings in Energy Transfer were worth $213,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Aveo Capital Partners LLC boosted its position in shares of Energy Transfer by 1.3% during the fourth quarter. Aveo Capital Partners LLC now owns 133,559 shares of the pipeline company’s stock worth $1,843,000 after buying an additional 1,663 shares during the period. 9258 Wealth Management LLC bought a new stake in Energy Transfer during the 4th quarter valued at $645,000. D.A. Davidson & CO. boosted its position in Energy Transfer by 38.7% during the 4th quarter. D.A. Davidson & CO. now owns 208,553 shares of the pipeline company’s stock worth $2,878,000 after acquiring an additional 58,147 shares during the period. Corient Private Wealth LLC grew its stake in shares of Energy Transfer by 1.7% in the fourth quarter. Corient Private Wealth LLC now owns 1,624,151 shares of the pipeline company’s stock worth $22,413,000 after purchasing an additional 26,575 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Energy Transfer by 6.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 1,207,751 shares of the pipeline company’s stock valued at $16,667,000 after purchasing an additional 71,530 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday. Mizuho upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Morgan Stanley increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.14.

Energy Transfer Stock Performance

Shares of ET opened at $16.20 on Friday. Energy Transfer LP has a 12-month low of $12.90 and a 12-month high of $16.50. The stock has a market capitalization of $54.58 billion, a P/E ratio of 14.86, a P/E/G ratio of 0.46 and a beta of 1.66. The firm’s 50 day moving average is $16.06 and its 200-day moving average is $15.82. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. Energy Transfer’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 EPS. Equities research analysts anticipate that Energy Transfer LP will post 1.4 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a $0.32 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.90%. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Insider Buying and Selling

In other news, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the acquisition, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The purchase was disclosed in a document filed with the SEC, which is available at this link. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by corporate insiders.

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.