Wealthcare Advisory Partners LLC Has $2.54 Million Holdings in Energy Transfer LP (NYSE:ET)

Wealthcare Advisory Partners LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 2.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 161,686 shares of the pipeline company’s stock after purchasing an additional 4,216 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Energy Transfer were worth $2,543,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ET. Sovereign Financial Group Inc. acquired a new position in Energy Transfer during the first quarter worth $187,000. Brookstone Capital Management increased its holdings in Energy Transfer by 3.2% during the first quarter. Brookstone Capital Management now owns 190,124 shares of the pipeline company’s stock worth $2,991,000 after buying an additional 5,894 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in Energy Transfer by 37.2% during the first quarter. Sunbelt Securities Inc. now owns 268,275 shares of the pipeline company’s stock worth $4,220,000 after buying an additional 72,802 shares during the last quarter. CIC Wealth LLC acquired a new position in Energy Transfer during the first quarter worth $184,000. Finally, CFM Wealth Partners LLC increased its holdings in Energy Transfer by 15.1% during the first quarter. CFM Wealth Partners LLC now owns 186,122 shares of the pipeline company’s stock worth $2,928,000 after buying an additional 24,373 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Shares of Energy Transfer stock traded up $0.06 during trading on Thursday, reaching $15.98. The company’s stock had a trading volume of 844,711 shares, compared to its average volume of 11,849,068. The business’s 50-day moving average price is $15.70 and its 200-day moving average price is $14.96. The firm has a market cap of $53.85 billion, a PE ratio of 14.61, a P/E/G ratio of 0.44 and a beta of 1.63. Energy Transfer LP has a 52 week low of $12.46 and a 52 week high of $16.40. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $21.63 billion during the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The company’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. Equities analysts forecast that Energy Transfer LP will post 1.45 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were given a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.93%. The ex-dividend date was Friday, May 10th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is presently 116.51%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ET shares. JPMorgan Chase & Co. boosted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Stifel Nicolaus lifted their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. UBS Group lifted their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Mizuho lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Finally, Morgan Stanley lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $19.29.

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.