97,312 Shares in Energy Transfer LP $ET Acquired by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. bought a new position in Energy Transfer LP (NYSE:ET) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 97,312 shares of the pipeline company’s stock, valued at approximately $1,764,000.

Several other institutional investors and hedge funds have also modified their holdings of ET. Ryan Investment Management Inc. acquired a new stake in Energy Transfer in the 2nd quarter worth approximately $31,000. CNB Bank raised its position in shares of Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 1,000 shares during the period. HHM Wealth Advisors LLC raised its position in shares of Energy Transfer by 54.4% in the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 800 shares during the period. Crowley Wealth Management Inc. acquired a new stake in shares of Energy Transfer in the second quarter worth $44,000. Finally, Pacific Center for Financial Services boosted its holdings in shares of Energy Transfer by 34.7% during the 1st quarter. Pacific Center for Financial Services now owns 2,586 shares of the pipeline company’s stock worth $48,000 after buying an additional 666 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Trading Up 0.9%

Shares of Energy Transfer stock opened at $16.56 on Monday. The stock has a market capitalization of $56.86 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 1.00 and a beta of 0.65. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50. The company has a 50-day simple moving average of $16.69 and a 200 day simple moving average of $17.29. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The firm had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. During the same period in the prior year, the company posted $0.32 earnings per share. Energy Transfer’s quarterly revenue was down 3.9% compared to the same quarter last year. Research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were issued a $0.3325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date of this dividend was Friday, November 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 106.40%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. UBS Group reiterated a “buy” rating and issued a $22.00 target price on shares of Energy Transfer in a report on Wednesday, October 15th. Morgan Stanley dropped their price objective on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Tuesday, December 2nd. JPMorgan Chase & Co. reduced their target price on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Jefferies Financial Group set a $17.00 target price on Energy Transfer and gave the stock a “hold” rating in a research report on Tuesday, October 28th. Finally, Scotiabank decreased their price objective on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a report on Thursday, November 13th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.62.

Insider Transactions at Energy Transfer

In related news, Director Kelcy L. Warren acquired 1,000,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were purchased at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the acquisition, the director directly owned 104,577,803 shares in the company, valued at $1,772,593,760.85. The trade was a 0.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 3.28% of the stock is currently owned by company insiders.

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.