1900 Wealth Management LLC Has $3.67 Million Position in Energy Transfer LP $ET

1900 Wealth Management LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 202,375 shares of the pipeline company’s stock after purchasing an additional 3,585 shares during the quarter. 1900 Wealth Management LLC’s holdings in Energy Transfer were worth $3,669,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ET. Ryan Investment Management Inc. acquired a new stake in Energy Transfer in the second quarter valued at approximately $31,000. Vision Financial Markets LLC acquired a new stake in Energy Transfer in the first quarter valued at approximately $33,000. HWG Holdings LP acquired a new stake in Energy Transfer in the first quarter valued at approximately $38,000. Stone House Investment Management LLC acquired a new stake in Energy Transfer in the first quarter valued at approximately $38,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Energy Transfer in the first quarter valued at approximately $40,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ET. Cowen assumed coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating for the company. TD Cowen assumed coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a “buy” rating and a $22.00 price target on the stock. Morgan Stanley dropped their price target on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Scotiabank assumed coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price target on the stock. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.50.

Energy Transfer Trading Down 0.3%

Shares of ET stock opened at $16.94 on Friday. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The firm’s fifty day simple moving average is $17.49 and its 200 day simple moving average is $17.56. The firm has a market capitalization of $58.13 billion, a P/E ratio of 13.13, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The business had revenue of $19.24 billion for the quarter, compared to analyst estimates of $24.07 billion. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Energy Transfer’s revenue was down 7.2% compared to the same quarter last year. As a group, sell-side analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were issued a $0.33 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.32 annualized dividend and a yield of 7.8%. Energy Transfer’s payout ratio is presently 102.33%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren purchased 1,350,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were purchased at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the acquisition, the director directly owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 3.28% of the stock is owned by company insiders.

Energy Transfer Company 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.