Allworth Financial LP Purchases 84,655 Shares of Energy Transfer LP $ET

Allworth Financial LP boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 137.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,120 shares of the pipeline company’s stock after buying an additional 84,655 shares during the period. Allworth Financial LP’s holdings in Energy Transfer were worth $2,649,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ET. Ryan Investment Management Inc. acquired a new stake in shares of Energy Transfer during the 2nd quarter valued at about $31,000. Vision Financial Markets LLC bought a new position in Energy Transfer during the first quarter worth about $33,000. CNB Bank lifted its stake in Energy Transfer by 111.1% during the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 1,000 shares during the period. Stone House Investment Management LLC acquired a new stake in Energy Transfer during the first quarter valued at approximately $38,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Energy Transfer in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insiders Place Their Bets

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the business’s stock in a transaction on Wednesday, August 20th. The shares were bought at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the transaction, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

ET stock opened at $16.59 on Thursday. The company has a 50 day moving average price of $16.98 and a 200 day moving average price of $17.40. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The stock has a market capitalization of $56.96 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.06). The firm had revenue of $19.95 billion during the quarter, compared to analyst estimates of $21.84 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the business posted $0.32 earnings per share. Analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th will be issued a dividend of $0.3325 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.33 annualized dividend and a yield of 8.0%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is presently 106.40%.

Analysts Set New Price Targets

Several analysts recently commented on ET shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Morgan Stanley dropped their price objective on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. UBS Group restated a “buy” rating and issued a $22.00 target price on shares of Energy Transfer in a research note on Wednesday, October 15th. Jefferies Financial Group set a $17.00 target price on shares of Energy Transfer and gave the stock a “hold” rating in a report on Tuesday, October 28th. Finally, Barclays reissued an “overweight” rating and set a $25.00 price target on shares of Energy Transfer in a report on Wednesday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $22.23.

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.