Foster Victor Wealth Advisors LLC Buys 27,289 Shares of Energy Transfer LP $ET

Foster Victor Wealth Advisors LLC increased its holdings in Energy Transfer LP (NYSEAMERICAN:ET) by 119.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,087 shares of the pipeline company’s stock after buying an additional 27,289 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Energy Transfer were worth $1,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ET. Summit Securities Group LLC lifted its position in Energy Transfer by 179.0% during the first quarter. Summit Securities Group LLC now owns 162,100 shares of the pipeline company’s stock valued at $3,129,000 after purchasing an additional 104,000 shares during the last quarter. North Star Investment Management Corp. grew its stake in Energy Transfer by 39.0% in the 1st quarter. North Star Investment Management Corp. now owns 224,439 shares of the pipeline company’s stock worth $4,332,000 after acquiring an additional 62,916 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Energy Transfer by 15.8% during the 1st quarter. Sanctuary Advisors LLC now owns 1,888,661 shares of the pipeline company’s stock worth $36,451,000 after purchasing an additional 257,954 shares during the period. Mizuho Markets Americas LLC purchased a new stake in Energy Transfer in the first quarter worth about $61,760,000. Finally, Independent Financial Group LLC purchased a new stake in shares of Energy Transfer in the 1st quarter worth approximately $2,170,000. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

Shares of NYSEAMERICAN ET opened at $20.13 on Thursday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. The firm has a fifty day moving average of $20.84 and a 200 day moving average of $20.05. The firm has a market cap of $69.31 billion, a PE ratio of 13.69 and a beta of 0.60. Energy Transfer LP has a one year low of $16.18 and a one year high of $21.84.

Energy Transfer (NYSEAMERICAN:ET) last released its earnings results on Tuesday, August 4th. The pipeline company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.21. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%. The business had revenue of $34.33 billion for the quarter, compared to the consensus estimate of $27.71 billion. During the same quarter last year, the business posted $0.32 earnings per share. The business’s quarterly revenue was up 78.4% compared to the same quarter last year. As a group, research analysts predict that Energy Transfer LP will post 1.73 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 6.8%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.3375. The ex-dividend date of this dividend was Friday, August 7th. Energy Transfer’s payout ratio is 92.52%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director James Perry bought 12,359 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average cost of $20.23 per share, with a total value of $250,022.57. Following the purchase, the director directly owned 208,046 shares in the company, valued at approximately $4,208,770.58. This represents a 6.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kelcy L. Warren acquired 647,968 shares of Energy Transfer stock in a transaction dated Wednesday, August 19th. The stock was bought at an average price of $21.26 per share, for a total transaction of $13,775,799.68. Following the completion of the purchase, the director owned 147,901,879 shares of the company’s stock, valued at approximately $3,144,393,947.54. This represents a 0.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have acquired 1,012,359 shares of company stock valued at $21,513,543. Company insiders own 3.28% of the company’s stock.

Analyst Upgrades and Downgrades

ET has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on Energy Transfer from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, September 4th. Royal Bank Of Canada restated an “outperform” rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, July 21st. Morgan Stanley boosted their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 18th. Wall Street Zen raised Energy Transfer from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings raised Energy Transfer from a “buy (b)” rating to a “buy (a-)” rating in a report on Tuesday, September 8th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.60.

About Energy Transfer

Energy Transfer LP is a diversified energy infrastructure company headquartered in Dallas, Texas. The partnership owns and operates a broad network of pipelines, processing facilities, storage assets and terminals that support the movement of natural gas, natural gas liquids, crude oil and refined products across the United States.

The company’s operations include gathering and processing natural gas, transporting and storing natural gas and NGLs, fractionating NGLs into component products, and transporting crude oil and refined products.