Kingswood Wealth Advisors LLC Purchases 41,178 Shares of Energy Transfer LP $ET

Kingswood Wealth Advisors LLC lifted its position in Energy Transfer LP (NYSE:ET) by 109.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,949 shares of the pipeline company’s stock after acquiring an additional 41,178 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Energy Transfer were worth $1,355,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Energy Transfer by 9.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,353,476 shares of the pipeline company’s stock worth $387,139,000 after purchasing an additional 1,825,391 shares during the period. Chickasaw Capital Management LLC grew its stake in shares of Energy Transfer by 3.2% during the second quarter. Chickasaw Capital Management LLC now owns 16,158,771 shares of the pipeline company’s stock valued at $292,959,000 after buying an additional 502,240 shares during the last quarter. BROOKFIELD Corp ON grew its stake in shares of Energy Transfer by 6.4% during the first quarter. BROOKFIELD Corp ON now owns 14,626,020 shares of the pipeline company’s stock valued at $271,898,000 after buying an additional 875,634 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Energy Transfer in the second quarter worth approximately $168,917,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in shares of Energy Transfer by 14.3% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 8,211,600 shares of the pipeline company’s stock worth $140,911,000 after acquiring an additional 1,029,000 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

ET opened at $16.97 on Friday. The company has a market capitalization of $58.25 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 0.88 and a beta of 0.66. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The business’s fifty day simple moving average is $16.58 and its 200-day simple moving average is $17.10.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The business had revenue of $19.95 billion during the quarter, compared to analysts’ expectations of $21.84 billion. During the same period last year, the company earned $0.32 earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Friday, November 7th were paid a dividend of $0.3325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date was Friday, November 7th. Energy Transfer’s payout ratio is 106.40%.

Wall Street Analysts Forecast Growth

ET has been the topic of several research analyst reports. Scotiabank cut their price objective on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a research report on Thursday, November 13th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research report on Wednesday. Weiss Ratings restated a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. Royal Bank Of Canada raised shares of Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Thirteen investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.75.

Insider Activity

In other Energy Transfer news, Director Kelcy L. Warren acquired 1,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were bought at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the acquisition, the director directly owned 104,577,803 shares in the company, valued at $1,772,593,760.85. This represents a 0.97% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Company Profile

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.