U.S. Capital Wealth Advisors LLC Raises Holdings in Energy Transfer LP (NYSE:ET)

U.S. Capital Wealth Advisors LLC increased its position in Energy Transfer LP (NYSE:ET) by 15.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,157,959 shares of the pipeline company’s stock after purchasing an additional 151,170 shares during the period. Energy Transfer accounts for about 0.7% of U.S. Capital Wealth Advisors LLC’s holdings, making the stock its 27th biggest holding. U.S. Capital Wealth Advisors LLC’s holdings in Energy Transfer were worth $21,526,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ET. Brighton Jones LLC grew its stake in shares of Energy Transfer by 93.4% in the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after purchasing an additional 11,844 shares during the last quarter. Assetmark Inc. grew its position in Energy Transfer by 401.7% in the 4th quarter. Assetmark Inc. now owns 8,760 shares of the pipeline company’s stock valued at $172,000 after buying an additional 7,014 shares during the last quarter. M&T Bank Corp raised its position in Energy Transfer by 4.5% during the 4th quarter. M&T Bank Corp now owns 182,179 shares of the pipeline company’s stock worth $3,569,000 after buying an additional 7,811 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Energy Transfer in the fourth quarter valued at about $225,000. Finally, United Community Bank acquired a new stake in Energy Transfer in the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.2%

NYSE:ET opened at $17.94 on Monday. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41. The stock has a 50 day moving average of $17.66 and a 200-day moving average of $18.47. The firm has a market capitalization of $61.57 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 0.58 and a beta of 0.79. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The firm had revenue of $21.02 billion for the quarter, compared to analysts’ expectations of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. Energy Transfer’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 earnings per share. Analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were issued a $0.3275 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.30%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is presently 99.24%.

Insider Transactions at Energy Transfer

In related news, Director James Richard Perry sold 1,369 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the completion of the sale, the director directly owned 24,523 shares in the company, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.28% of the company’s stock.

Wall Street Analysts Forecast Growth

ET has been the subject of several research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. JPMorgan Chase & Co. lowered their target price on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. Morgan Stanley lifted their price target on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 25th. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Finally, Mizuho lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 20th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.64.

Energy Transfer Profile

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.