Walled Lake Planning & Wealth Management LLC Has $508,000 Holdings in Energy Transfer LP $ET

Walled Lake Planning & Wealth Management LLC raised its position in shares of Energy Transfer LP (NYSE:ET) by 28.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,025 shares of the pipeline company’s stock after purchasing an additional 6,226 shares during the period. Walled Lake Planning & Wealth Management LLC’s holdings in Energy Transfer were worth $508,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after acquiring an additional 11,844 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Energy Transfer by 20.0% during the 1st quarter. Bank of New York Mellon Corp now owns 134,509 shares of the pipeline company’s stock worth $2,501,000 after purchasing an additional 22,457 shares during the last quarter. AE Wealth Management LLC raised its holdings in shares of Energy Transfer by 12.7% during the 1st quarter. AE Wealth Management LLC now owns 101,699 shares of the pipeline company’s stock valued at $1,891,000 after purchasing an additional 11,439 shares in the last quarter. Journey Strategic Wealth LLC acquired a new stake in shares of Energy Transfer in the 1st quarter valued at $192,000. Finally, Avantax Advisory Services Inc. boosted its holdings in Energy Transfer by 4.2% in the first quarter. Avantax Advisory Services Inc. now owns 190,415 shares of the pipeline company’s stock worth $3,540,000 after purchasing an additional 7,632 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Insider Activity

In related news, Director Kelcy L. Warren acquired 1,000,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was acquired at an average price of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the transaction, the director owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. This represents a 0.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.28% of the company’s stock.

Wall Street Analyst Weigh In

ET has been the topic of several recent research reports. Barclays restated an “overweight” rating and set a $25.00 target price on shares of Energy Transfer in a report on Wednesday, October 15th. Wells Fargo & Company reissued an “overweight” rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. UBS Group reiterated a “buy” rating and set a $22.00 price target on shares of Energy Transfer in a report on Wednesday, October 15th. Finally, Morgan Stanley reduced their price objective on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.08.

Energy Transfer Stock Performance

ET opened at $16.52 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The stock’s 50 day moving average price is $16.90 and its two-hundred day moving average price is $17.41. The firm has a market capitalization of $56.72 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). The business had revenue of $19.95 billion during the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm’s revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 earnings per share. On average, equities analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were given a $0.3325 dividend. The ex-dividend date was Friday, November 7th. This represents a $1.33 annualized dividend and a yield of 8.1%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is 106.40%.

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.