Kingdom Financial Group LLC. Takes Position in Energy Transfer LP $ET

Kingdom Financial Group LLC. purchased a new position in Energy Transfer LP (NYSE:ET) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,502 shares of the pipeline company’s stock, valued at approximately $190,000.

Several other institutional investors and hedge funds also recently bought and sold shares of ET. Vanguard Personalized Indexing Management LLC raised its stake in shares of Energy Transfer by 1.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company’s stock valued at $723,000 after acquiring an additional 565 shares during the period. Indiana Trust & Investment Management Co grew its holdings in Energy Transfer by 5.1% during the 1st quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company’s stock valued at $219,000 after purchasing an additional 576 shares during the last quarter. Beam Wealth Advisors Inc. raised its position in Energy Transfer by 1.5% in the 1st quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company’s stock worth $742,000 after purchasing an additional 585 shares during the period. Bogart Wealth LLC raised its holdings in shares of Energy Transfer by 1.9% in the second quarter. Bogart Wealth LLC now owns 32,788 shares of the pipeline company’s stock worth $594,000 after buying an additional 604 shares during the period. Finally, MCF Advisors LLC lifted its stake in shares of Energy Transfer by 7.2% during the 2nd quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company’s stock worth $167,000 after acquiring an additional 616 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ET. Morgan Stanley decreased their target price on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Wells Fargo & Company reiterated an “overweight” rating and set a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Jefferies Financial Group set a $17.00 price target on shares of Energy Transfer and gave the company a “hold” rating in a research note on Tuesday, October 28th. UBS Group restated a “buy” rating and set a $22.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average price target of $22.08.

Energy Transfer Price Performance

Shares of ET opened at $16.97 on Wednesday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. The company has a 50 day moving average price of $16.94 and a 200-day moving average price of $17.41. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The stock has a market capitalization of $58.27 billion, a PE ratio of 13.16, a PEG ratio of 1.01 and a beta of 0.76.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The business had revenue of $19.95 billion during the quarter, compared to the consensus estimate of $21.84 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. Equities analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Friday, November 7th will be given a $0.3325 dividend. This represents a $1.33 annualized dividend and a dividend yield of 7.8%. The ex-dividend date of this dividend is Friday, November 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is presently 106.40%.

Energy Transfer Profile

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.