Energy Transfer LP (NYSE:ET) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its stake in shares of Energy Transfer LP (NYSE:ET) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 742,147 shares of the pipeline company’s stock after purchasing an additional 23,324 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Energy Transfer were worth $14,539,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in Energy Transfer by 32.3% during the second quarter. Bank of New York Mellon Corp now owns 94,442 shares of the pipeline company’s stock worth $1,532,000 after buying an additional 23,079 shares during the period. HBK Sorce Advisory LLC grew its stake in Energy Transfer by 32.7% during the second quarter. HBK Sorce Advisory LLC now owns 20,877 shares of the pipeline company’s stock worth $339,000 after buying an additional 5,148 shares during the period. 1ST Source Bank grew its stake in Energy Transfer by 7.2% during the second quarter. 1ST Source Bank now owns 22,994 shares of the pipeline company’s stock worth $373,000 after buying an additional 1,550 shares during the period. Fiduciary Group LLC grew its stake in Energy Transfer by 14.9% during the second quarter. Fiduciary Group LLC now owns 35,058 shares of the pipeline company’s stock worth $569,000 after buying an additional 4,543 shares during the period. Finally, Westover Capital Advisors LLC purchased a new stake in Energy Transfer during the second quarter worth approximately $311,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Bank of America assumed coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. UBS Group boosted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. The Goldman Sachs Group upped their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Barclays upped their target price on shares of Energy Transfer from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $20.55.

Energy Transfer Trading Down 1.5 %

ET opened at $19.44 on Monday. The stock has a market capitalization of $66.56 billion, a PE ratio of 14.29, a P/E/G ratio of 0.62 and a beta of 1.70. The firm’s fifty day moving average price is $18.73 and its 200 day moving average price is $17.07. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer LP has a 12-month low of $13.60 and a 12-month high of $20.02.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 earnings per share. As a group, research analysts expect that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.64%. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

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.