Energy Transfer LP (NYSE:ET) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC raised its position in Energy Transfer LP (NYSE:ET) by 30.9% in the 3rd quarter, Holdings Channel reports. The fund owned 242,042 shares of the pipeline company’s stock after purchasing an additional 57,184 shares during the period. Kingsview Wealth Management LLC’s holdings in Energy Transfer were worth $3,885,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Cerity Partners LLC grew its stake in shares of Energy Transfer by 29.1% during the third quarter. Cerity Partners LLC now owns 242,531 shares of the pipeline company’s stock valued at $3,893,000 after acquiring an additional 54,611 shares in the last quarter. Great Valley Advisor Group Inc. grew its stake in Energy Transfer by 3.1% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 161,520 shares of the pipeline company’s stock valued at $2,592,000 after purchasing an additional 4,907 shares in the last quarter. Nwam LLC purchased a new stake in Energy Transfer during the 3rd quarter worth approximately $445,000. Icon Wealth Advisors LLC raised its position in shares of Energy Transfer by 239.0% in the 3rd quarter. Icon Wealth Advisors LLC now owns 563,458 shares of the pipeline company’s stock valued at $9,044,000 after purchasing an additional 397,260 shares in the last quarter. Finally, GM Advisory Group LLC boosted its stake in shares of Energy Transfer by 26.1% during the 3rd quarter. GM Advisory Group LLC now owns 23,209 shares of the pipeline company’s stock valued at $373,000 after buying an additional 4,809 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.5 %

Shares of NYSE:ET opened at $19.07 on Monday. The company’s fifty day moving average is $16.66 and its two-hundred day moving average is $16.18. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. Energy Transfer LP has a 1-year low of $13.11 and a 1-year high of $19.20. The stock has a market capitalization of $65.29 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.76%. Energy Transfer’s dividend payout ratio is currently 94.85%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Finally, Royal Bank of Canada increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.00.

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.