EP Wealth Advisors LLC Has $231,000 Holdings in Energy Transfer LP (NYSE:ET)

EP Wealth Advisors LLC increased its position in shares of Energy Transfer LP (NYSE:ET – Get Rating) by 75.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,942 shares of the pipeline company’s stock after acquiring an additional 9,031 shares during the quarter. EP Wealth Advisors LLC’s holdings in Energy Transfer were worth $231,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Toroso Investments LLC increased its stake in Energy Transfer by 1.6% in the 3rd quarter. Toroso Investments LLC now owns 64,698 shares of the pipeline company’s stock valued at $713,000 after buying an additional 1,050 shares during the period. IHT Wealth Management LLC increased its stake in Energy Transfer by 26.8% in the 3rd quarter. IHT Wealth Management LLC now owns 143,843 shares of the pipeline company’s stock valued at $1,587,000 after buying an additional 30,421 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in Energy Transfer by 655.3% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 560,895 shares of the pipeline company’s stock valued at $6,187,000 after buying an additional 486,630 shares during the period. FourThought Financial LLC increased its stake in Energy Transfer by 28.2% in the 3rd quarter. FourThought Financial LLC now owns 46,874 shares of the pipeline company’s stock valued at $517,000 after buying an additional 10,322 shares during the period. Finally, Sunbelt Securities Inc. increased its stake in Energy Transfer by 2.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 154,513 shares of the pipeline company’s stock valued at $1,704,000 after buying an additional 3,875 shares during the period. Institutional investors and hedge funds own 37.81% of the company’s stock.

Energy Transfer Price Performance

NYSE ET opened at $11.99 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.39. The company has a fifty day simple moving average of $12.83 and a 200 day simple moving average of $12.20. The company has a market cap of $37.10 billion, a P/E ratio of 8.63 and a beta of 1.75. Energy Transfer LP has a 1 year low of $9.15 and a 1 year high of $13.67.

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

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 21st. Shareholders of record on Tuesday, February 7th were issued a $0.305 dividend. The ex-dividend date of this dividend was Monday, February 6th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.27. This represents a $1.22 dividend on an annualized basis and a yield of 10.18%. Energy Transfer’s dividend payout ratio is 87.77%.

Insider Buying and Selling at Energy Transfer

In related news, Chairman Kelcy L. Warren purchased 1,339,398 shares of Energy Transfer stock in a transaction on Wednesday, February 22nd. The stock was 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 in the company, valued at $739,363,196.25. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 3.28% of the company’s stock.

Analyst Upgrades and Downgrades

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

Energy Transfer Profile

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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.