Arkadios Wealth Advisors Acquires New Position in Energy Transfer LP (NYSE:ET)

Arkadios Wealth Advisors acquired a new stake in Energy Transfer LP (NYSE:ETGet Rating) during the first quarter, Holdings Channel.com reports. The fund acquired 10,323 shares of the pipeline company’s stock, valued at approximately $116,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Total Clarity Wealth Management Inc. boosted its position in Energy Transfer by 43.9% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 3,382 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,032 shares in the last quarter. CWM LLC acquired a new position in shares of Energy Transfer during the fourth quarter worth $35,000. Itau Unibanco Holding S.A. acquired a new position in shares of Energy Transfer during the fourth quarter worth $40,000. EverSource Wealth Advisors LLC acquired a new position in shares of Energy Transfer during the fourth quarter worth $56,000. Finally, Wagner Wealth Management LLC lifted its holdings in shares of Energy Transfer by 81.4% during the fourth quarter. Wagner Wealth Management LLC now owns 7,292 shares of the pipeline company’s stock worth $60,000 after purchasing an additional 3,272 shares during the period. Institutional investors and hedge funds own 48.40% of the company’s stock.

Energy Transfer Price Performance

ET stock opened at $10.25 on Friday. The firm has a market cap of $31.63 billion, a price-to-earnings ratio of 9.67 and a beta of 1.91. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 1.43. Energy Transfer LP has a 12-month low of $7.96 and a 12-month high of $12.48. The company’s fifty day simple moving average is $10.71 and its 200 day simple moving average is $10.52.

Energy Transfer (NYSE:ETGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The pipeline company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.06. Energy Transfer had a net margin of 4.58% and a return on equity of 10.25%. The firm had revenue of $20.49 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The business’s revenue was up 20.6% compared to the same quarter last year. On average, analysts expect that Energy Transfer LP will post 1.25 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 19th. Shareholders of record on Monday, May 9th were paid a $0.20 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 7.80%. The ex-dividend date was Friday, May 6th. Energy Transfer’s payout ratio is 75.47%.

Analyst Ratings Changes

A number of equities analysts have recently commented on ET shares. US Capital Advisors reiterated a “buy” rating on shares of Energy Transfer in a report on Wednesday, June 1st. Barclays cut their price target on shares of Energy Transfer from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Morgan Stanley lifted their price target on shares of Energy Transfer from $12.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday, April 26th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $14.25.

Insider Buying and Selling at Energy Transfer

In related news, Director Richard D. Brannon purchased 26,027 shares of the firm’s stock in a transaction on Thursday, July 14th. The stock was purchased at an average cost of $9.47 per share, with a total value of $246,475.69. Following the completion of the purchase, the director now owns 388,347 shares in the company, valued at approximately $3,677,646.09. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 3.28% of the company’s stock.

Energy Transfer Company Profile

(Get Rating)

Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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