USAdvisors Wealth Management LLC Grows Stake in Energy Transfer LP $ET

USAdvisors Wealth Management LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 14.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 15,500 shares of the pipeline company’s stock after acquiring an additional 2,000 shares during the period. USAdvisors Wealth Management LLC’s holdings in Energy Transfer were worth $281,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ET. Indiana Trust & Investment Management Co boosted its stake in Energy Transfer by 5.1% during the first quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company’s stock valued at $219,000 after buying an additional 576 shares during the last quarter. Beam Wealth Advisors Inc. boosted its stake in Energy Transfer by 1.5% during the first quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company’s stock valued at $742,000 after buying an additional 585 shares during the last quarter. Morton Capital Management LLC CA boosted its stake in Energy Transfer by 1.3% during the first quarter. Morton Capital Management LLC CA now owns 46,382 shares of the pipeline company’s stock valued at $862,000 after buying an additional 593 shares during the last quarter. MCF Advisors LLC boosted its stake in Energy Transfer by 7.2% during the second quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company’s stock valued at $167,000 after buying an additional 616 shares during the last quarter. Finally, Chicago Capital LLC boosted its stake in Energy Transfer by 2.6% during the second quarter. Chicago Capital LLC now owns 24,056 shares of the pipeline company’s stock valued at $436,000 after buying an additional 618 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

NYSE:ET opened at $16.83 on Friday. The firm has a market capitalization of $57.78 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.99 and a beta of 0.78. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The business has a 50 day simple moving average of $17.47 and a 200-day simple moving average of $17.54. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The firm had revenue of $19.24 billion for the quarter, compared to the consensus estimate of $24.07 billion. During the same period in the prior year, the business posted $0.35 earnings per share. The company’s revenue for the quarter was down 7.2% on a year-over-year basis. Equities analysts forecast 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. Stockholders of record on Friday, August 8th were issued a $0.33 dividend. The ex-dividend date was Friday, August 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a dividend yield of 7.8%. Energy Transfer’s dividend payout ratio (DPR) is currently 102.33%.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren purchased 1,350,000 shares of Energy Transfer stock in a transaction dated Wednesday, August 20th. The shares were purchased at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the acquisition, the director owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ET shares. Wells Fargo & Company reissued an “overweight” rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Scotiabank started coverage on Energy Transfer in a research note on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price target for the company. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a research note on Saturday, September 27th. Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating for the company. Finally, Morgan Stanley lowered their price objective on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Fourteen equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.50.

About Energy Transfer

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.