ACT Wealth Management LLC Purchases 1,750 Shares of Energy Transfer LP (NYSE:ET)

ACT Wealth Management LLC boosted its holdings in shares of Energy Transfer LP (NYSE:ETFree Report) by 9.4% in the 1st quarter, Holdings Channel reports. The firm owned 20,370 shares of the pipeline company’s stock after buying an additional 1,750 shares during the period. Energy Transfer accounts for about 0.2% of ACT Wealth Management LLC’s holdings, making the stock its 24th largest position. ACT Wealth Management LLC’s holdings in Energy Transfer were worth $320,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ET. Mutual Advisors LLC boosted its position in Energy Transfer by 112.9% in the fourth quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company’s stock valued at $2,028,000 after buying an additional 77,938 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Energy Transfer by 95.8% during the 4th quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock valued at $2,013,000 after acquiring an additional 71,386 shares in the last quarter. Savant Capital LLC grew its position in Energy Transfer by 19.7% during the 4th quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company’s stock worth $363,000 after acquiring an additional 4,340 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Energy Transfer by 230.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock worth $10,335,000 after purchasing an additional 513,989 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its position in Energy Transfer by 3.3% in the fourth quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock valued at $390,000 after purchasing an additional 903 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Up 1.6 %

Shares of ET stock traded up $0.25 during mid-day trading on Thursday, hitting $15.73. The company’s stock had a trading volume of 9,635,544 shares, compared to its average volume of 11,994,957. The company has a market cap of $53.01 billion, a PE ratio of 14.43, a P/E/G ratio of 0.43 and a beta of 1.63. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The company’s fifty day simple moving average is $15.66 and its 200-day simple moving average is $14.90. Energy Transfer LP has a 52 week low of $12.46 and a 52 week high of $16.40.

Energy Transfer (NYSE:ETGet Free Report) last issued its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $21.63 billion during the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 earnings per share. As a group, equities research analysts expect that Energy Transfer LP will post 1.43 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were paid a dividend of $0.317 per share. The ex-dividend date was Friday, May 10th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 8.06%. Energy Transfer’s dividend payout ratio is currently 116.51%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Citigroup upped their price objective on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Morgan Stanley upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. UBS Group boosted their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. raised their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Mizuho upped their price target on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Read Our Latest Analysis on Energy Transfer

Energy Transfer Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Energy Transfer (NYSE:ET)

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