NewEdge Wealth LLC Raises Holdings in Energy Transfer LP (NYSE:ET)

NewEdge Wealth LLC boosted its position in Energy Transfer LP (NYSE:ETFree Report) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,248 shares of the pipeline company’s stock after purchasing an additional 1,500 shares during the period. NewEdge Wealth LLC’s holdings in Energy Transfer were worth $986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in ET. Bank of New York Mellon Corp raised its stake in shares of Energy Transfer by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 79,889 shares of the pipeline company’s stock valued at $894,000 after acquiring an additional 3,501 shares in the last quarter. Cibc World Market Inc. grew its holdings in Energy Transfer by 0.6% in the first quarter. Cibc World Market Inc. now owns 424,932 shares of the pipeline company’s stock worth $4,755,000 after purchasing an additional 2,403 shares during the last quarter. Blair William & Co. IL grew its holdings in Energy Transfer by 13.7% in the first quarter. Blair William & Co. IL now owns 260,824 shares of the pipeline company’s stock worth $2,919,000 after purchasing an additional 31,407 shares during the last quarter. Cetera Investment Advisers grew its holdings in Energy Transfer by 7.3% in the first quarter. Cetera Investment Advisers now owns 159,249 shares of the pipeline company’s stock worth $1,782,000 after purchasing an additional 10,856 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Energy Transfer by 43.0% in the first quarter. NewEdge Advisors LLC now owns 192,394 shares of the pipeline company’s stock worth $2,153,000 after purchasing an additional 57,880 shares during the last quarter. Institutional investors own 33.79% of the company’s stock.

Energy Transfer Trading Down 0.1 %

ET opened at $13.98 on Wednesday. The company’s 50 day simple moving average is $13.88 and its two-hundred day simple moving average is $13.60. The firm has a market capitalization of $43.97 billion, a price-to-earnings ratio of 13.19 and a beta of 1.64. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.05 and a quick ratio of 0.85. Energy Transfer LP has a 1-year low of $11.45 and a 1-year high of $14.65.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Wednesday, February 7th will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 9.01%. The ex-dividend date of this dividend is Tuesday, February 6th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s dividend payout ratio (DPR) is 117.92%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. increased their price target on Energy Transfer from $17.00 to $18.00 in a research report on Tuesday, October 10th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $16.57.

Get Our Latest Stock Report on Energy Transfer

Energy Transfer Profile

(Free Report)

Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,945 miles of interstate natural gas pipeline.

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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