Miller Wealth Advisors LLC Buys Shares of 4,424 Energy Transfer LP (NYSE:ET)

Miller Wealth Advisors LLC bought a new stake in Energy Transfer LP (NYSE:ET) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 4,424 shares of the pipeline company’s stock, valued at approximately $61,000. Energy Transfer makes up about 0.1% of Miller Wealth Advisors LLC’s investment portfolio, making the stock its 19th biggest position.

A number of other large investors also recently bought and sold shares of ET. Rise Advisors LLC lifted its position in shares of Energy Transfer by 88.2% during the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares in the last quarter. Harbor Investment Advisory LLC lifted its position in shares of Energy Transfer by 42.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 750 shares in the last quarter. BluePath Capital Management LLC acquired a new stake in shares of Energy Transfer during the third quarter worth about $37,000. Community Bank N.A. lifted its position in shares of Energy Transfer by 55.9% during the fourth quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 951 shares in the last quarter. Finally, Fortitude Family Office LLC acquired a new stake in shares of Energy Transfer during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Citigroup increased their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Mizuho reaffirmed a “buy” rating and issued a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Finally, UBS Group reduced their target price on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Energy Transfer Stock Up 1.7 %

NYSE:ET traded up $0.26 during mid-day trading on Thursday, hitting $15.74. The stock had a trading volume of 6,563,486 shares, compared to its average volume of 12,196,815. The stock has a 50-day simple moving average of $15.42 and a two-hundred day simple moving average of $14.37. The company has a market capitalization of $53.03 billion, a PE ratio of 14.29 and a beta of 1.63. Energy Transfer LP has a twelve month low of $12.18 and a twelve month high of $16.07. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.29 by $0.08. The company had revenue of $20.53 billion for the quarter, compared to analyst estimates of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 earnings per share. On average, equities research analysts anticipate that Energy Transfer LP will post 1.56 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a $0.317 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 8.06%. The ex-dividend date is Friday, May 10th. Energy Transfer’s dividend payout ratio is currently 115.60%.

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.