IHT Wealth Management LLC lifted its holdings in Energy Transfer LP (NYSE:ET – Get Rating) by 26.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 143,843 shares of the pipeline company’s stock after purchasing an additional 30,421 shares during the period. IHT Wealth Management LLC’s holdings in Energy Transfer were worth $1,587,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. HBW Advisory Services LLC acquired a new stake in shares of Energy Transfer in the 3rd quarter valued at $113,000. Visionary Wealth Advisors lifted its position in Energy Transfer by 35.8% during the 2nd quarter. Visionary Wealth Advisors now owns 25,475 shares of the pipeline company’s stock worth $254,000 after acquiring an additional 6,715 shares during the last quarter. Lincoln National Corp lifted its position in Energy Transfer by 3.4% during the 3rd quarter. Lincoln National Corp now owns 78,454 shares of the pipeline company’s stock worth $866,000 after acquiring an additional 2,585 shares during the last quarter. Castleark Management LLC lifted its position in Energy Transfer by 175.3% during the 2nd quarter. Castleark Management LLC now owns 1,727,660 shares of the pipeline company’s stock worth $17,242,000 after acquiring an additional 1,100,000 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in Energy Transfer by 2.4% during the 2nd quarter. Captrust Financial Advisors now owns 334,797 shares of the pipeline company’s stock worth $3,341,000 after acquiring an additional 7,787 shares during the last quarter. Institutional investors and hedge funds own 37.81% of the company’s stock.
Energy Transfer Stock Performance
NYSE ET opened at $12.25 on Friday. The stock has a market cap of $37.91 billion, a P/E ratio of 8.81 and a beta of 1.75. The company’s 50-day simple moving average is $12.83 and its 200 day simple moving average is $12.20. Energy Transfer LP has a twelve month low of $9.15 and a twelve month high of $13.67. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.39.
Energy Transfer Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 21st. Investors of record on Tuesday, February 7th were paid a $0.305 dividend. The ex-dividend date was Monday, February 6th. This represents a $1.22 dividend on an annualized basis and a yield of 9.96%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.27. Energy Transfer’s payout ratio is presently 87.77%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on ET shares. Wells Fargo & Company boosted their target price on shares of Energy Transfer from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 21st. Barclays boosted their price objective on shares of Energy Transfer from $14.00 to $15.00 and gave the stock an “overweight” rating in a report on Wednesday, January 18th. Citigroup assumed coverage on shares of Energy Transfer in a report on Thursday, December 8th. They set a “buy” rating and a $16.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, January 9th. Finally, Raymond James boosted their price objective on shares of Energy Transfer from $15.00 to $17.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 16th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $16.43.
Insider Activity at Energy Transfer
In other Energy Transfer news, Chairman Kelcy L. Warren bought 1,339,398 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The shares were acquired at an average price of $12.99 per share, with a total value of $17,398,780.02. Following the completion of the purchase, the chairman now directly owns 56,917,875 shares in the company, valued at approximately $739,363,196.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.28% of the stock is currently owned by insiders.
Energy Transfer Company Profile
Energy Transfer LP provides natural gas pipeline transportation and transmission services. It operates through the following segments: Intrastate Transportation and Storage, Interstate Transportation and Storage, Midstream, NGL and Refined Products Transportation and Services, Crude Oil Transportation and Services, Investment in Sunoco LP, Investment in USAC, and All Other.
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