Energy Transfer LP (NYSE:ET) Shares Acquired by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 30.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 242,042 shares of the pipeline company’s stock after purchasing an additional 57,184 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Energy Transfer were worth $3,885,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ET. Gamco Investors INC. ET AL grew its position in Energy Transfer by 373.2% in the 1st quarter. Gamco Investors INC. ET AL now owns 88,755 shares of the pipeline company’s stock valued at $1,396,000 after buying an additional 70,000 shares during the last quarter. SVB Wealth LLC increased its stake in shares of Energy Transfer by 40.1% during the first quarter. SVB Wealth LLC now owns 31,669 shares of the pipeline company’s stock worth $498,000 after acquiring an additional 9,072 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in Energy Transfer by 31.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 159,264 shares of the pipeline company’s stock worth $2,505,000 after purchasing an additional 38,383 shares in the last quarter. Waverly Advisors LLC lifted its position in Energy Transfer by 1.1% in the first quarter. Waverly Advisors LLC now owns 225,052 shares of the pipeline company’s stock valued at $3,540,000 after purchasing an additional 2,521 shares during the period. Finally, Invenomic Capital Management LP purchased a new stake in Energy Transfer in the 1st quarter valued at approximately $17,205,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. UBS Group raised their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Bank of America began coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Royal Bank of Canada upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Energy Transfer currently has an average rating of “Buy” and an average price target of $20.00.

Energy Transfer Trading Up 0.5 %

Shares of ET opened at $19.07 on Monday. 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 1-year low of $13.11 and a 1-year high of $19.20. The stock has a market cap of $65.29 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66. The firm has a 50 day simple moving average of $16.66 and a 200-day simple moving average of $16.18.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter last year, the business posted $0.31 earnings per share. Energy Transfer’s revenue was up .2% compared to the same quarter last year. Equities analysts forecast that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.76%. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

About Energy Transfer

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.