Wealth Enhancement Advisory Services LLC Acquires 146,799 Shares of Energy Transfer LP (NYSE:ET)

Wealth Enhancement Advisory Services LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 26.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 696,770 shares of the pipeline company’s stock after buying an additional 146,799 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Energy Transfer were worth $11,302,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Northwest Financial Advisors bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $25,000. LRI Investments LLC bought a new stake in shares of Energy Transfer during the first quarter valued at approximately $29,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $33,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $34,000. Finally, Community Bank N.A. boosted its holdings in Energy Transfer by 55.9% in the fourth quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 951 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on ET shares. Mizuho boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Morgan Stanley boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Stifel Nicolaus boosted their target price on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Finally, UBS Group boosted their target price on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Stock Up 1.7 %

Shares of ET stock traded up $0.27 during mid-day trading on Wednesday, hitting $15.85. The company’s stock had a trading volume of 8,261,122 shares, compared to its average volume of 13,472,708. Energy Transfer LP has a 52-week low of $12.46 and a 52-week high of $16.50. The business has a 50-day moving average price of $15.96 and a 200 day moving average price of $15.53. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The stock has a market cap of $53.41 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 0.42 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 EPS. Research analysts predict that Energy Transfer LP will post 1.49 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 9th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 8.08%. The ex-dividend date of this dividend is Friday, August 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 117.43%.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren acquired 3,000,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Thomas E. Long purchased 20,000 shares of the stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The disclosure for this purchase can be found here. 3.28% of the stock is owned by company insiders.

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.