CreativeOne Wealth LLC Has $960,000 Stock Holdings in Energy Transfer LP (NYSE:ET)

CreativeOne Wealth LLC boosted its holdings in Energy Transfer LP (NYSE:ET – Get Rating) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,055 shares of the pipeline company’s stock after buying an additional 2,060 shares during the quarter. CreativeOne Wealth LLC’s holdings in Energy Transfer were worth $960,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. HBW Advisory Services LLC bought a new position in shares of Energy Transfer during the third quarter worth about $113,000. Visionary Wealth Advisors raised its holdings 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 purchasing an additional 6,715 shares during the last quarter. Lincoln National Corp lifted its position in shares of Energy Transfer by 3.4% in the 3rd quarter. Lincoln National Corp now owns 78,454 shares of the pipeline company’s stock worth $866,000 after purchasing an additional 2,585 shares during the period. Castleark Management LLC boosted its stake in shares of Energy Transfer by 175.3% in the 2nd quarter. Castleark Management LLC now owns 1,727,660 shares of the pipeline company’s stock valued at $17,242,000 after purchasing an additional 1,100,000 shares during the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Energy Transfer by 2.4% during the second quarter. Captrust Financial Advisors now owns 334,797 shares of the pipeline company’s stock worth $3,341,000 after buying an additional 7,787 shares during the period. 37.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Energy Transfer

In related news, Chairman Kelcy L. Warren purchased 1,339,398 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was acquired at an average price of $12.99 per share, for a total transaction of $17,398,780.02. Following the completion of the acquisition, the chairman now owns 56,917,875 shares of the company’s stock, valued at approximately $739,363,196.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Kelcy L. Warren acquired 1,339,398 shares of the business’s stock in a transaction on Wednesday, February 22nd. The shares were purchased at an average cost of $12.99 per share, with a total value of $17,398,780.02. Following the acquisition, the chairman now directly owns 56,917,875 shares of the company’s stock, valued at $739,363,196.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard D. Brannon bought 80,000 shares of Energy Transfer stock in a transaction dated Thursday, December 15th. The stock was purchased at an average price of $11.55 per share, with a total value of $924,000.00. Following the purchase, the director now owns 580,000 shares in the company, valued at $6,699,000. The disclosure for this purchase can be found here. Company insiders own 3.28% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Citigroup started coverage on shares of Energy Transfer in a research report on Thursday, December 8th. They set a “buy” rating and a $16.00 price target on the stock. Barclays upped their target price on Energy Transfer from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Wednesday, January 18th. Raymond James boosted their price target on Energy Transfer from $15.00 to $17.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 16th. Morgan Stanley raised their price objective on shares of Energy Transfer from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, January 9th. Finally, Wells Fargo & Company boosted their target price on shares of Energy Transfer from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Tuesday, February 21st. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Energy Transfer presently has an average rating of “Buy” and a consensus price target of $16.43.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $12.34 on Wednesday. Energy Transfer LP has a twelve month low of $9.15 and a twelve month high of $13.67. The stock’s 50 day moving average is $12.82 and its 200-day moving average is $12.21. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $38.19 billion, a price-to-earnings ratio of 8.88 and a beta of 1.75.

Energy Transfer (NYSE:ET – Get Rating) last released its quarterly earnings data on Wednesday, February 15th. The pipeline company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.03). The business had revenue of $20.50 billion for the quarter, compared to analyst estimates of $23.81 billion. Energy Transfer had a return on equity of 13.55% and a net margin of 5.17%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 EPS. Sell-side analysts forecast that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 21st. Investors of record on Tuesday, February 7th were given a $0.305 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, February 6th. This represents a $1.22 annualized dividend and a yield of 9.89%. Energy Transfer’s dividend payout ratio (DPR) is presently 87.77%.

About Energy Transfer

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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.