Energy Transfer LP $ET Shares Purchased by WCG Wealth Advisors LLC

WCG Wealth Advisors LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 227.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 49,009 shares of the pipeline company’s stock after purchasing an additional 34,033 shares during the quarter. WCG Wealth Advisors LLC’s holdings in Energy Transfer were worth $808,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Basepoint Wealth LLC acquired a new stake in Energy Transfer during the 4th quarter worth $25,000. Gables Capital Management Inc. raised its stake in Energy Transfer by 60.0% during the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 600 shares in the last quarter. Financial Life Planners acquired a new stake in Energy Transfer during the 3rd quarter worth $34,000. Navalign LLC acquired a new stake in Energy Transfer during the 4th quarter worth $37,000. Finally, Tucker Asset Management LLC acquired a new stake in Energy Transfer during the 4th quarter worth $47,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ET. Truist Financial began coverage on shares of Energy Transfer in a research note on Tuesday, March 24th. They set a “buy” rating and a $23.00 price target on the stock. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. JPMorgan Chase & Co. raised their price objective on shares of Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Raymond James Financial reissued a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group raised shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Buy” and an average target price of $23.45.

Energy Transfer Trading Down 0.9%

Shares of Energy Transfer stock opened at $19.44 on Friday. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $20.70. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The company’s 50-day simple moving average is $19.47 and its 200-day simple moving average is $18.26. The firm has a market cap of $66.89 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 1.12 and a beta of 0.55.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm had revenue of $27.77 billion for the quarter, compared to analyst estimates of $25.78 billion. During the same quarter last year, the firm earned $0.36 earnings per share. The company’s revenue was up 32.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a dividend of $0.3375 per share. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.9%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 112.50%.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.