Energy Transfer LP $ET Stock Bought by Foster Victor Wealth Advisors LLC

Foster Victor Wealth Advisors LLC boosted its position in Energy Transfer LP (NYSEAMERICAN:ET) by 119.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 50,087 shares of the pipeline company’s stock after buying an additional 27,289 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in Energy Transfer were worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Kings Path Partners LLC acquired a new position in shares of Energy Transfer during the 3rd quarter worth $158,000. Sawyer & Company Inc acquired a new position in Energy Transfer during the third quarter worth $30,000. Parkway Wealth Management Group LLC grew its holdings in Energy Transfer by 14.3% in the third quarter. Parkway Wealth Management Group LLC now owns 23,605 shares of the pipeline company’s stock valued at $467,000 after purchasing an additional 2,954 shares during the last quarter. Jeppson Wealth Management LLC raised its stake in shares of Energy Transfer by 1.7% during the 3rd quarter. Jeppson Wealth Management LLC now owns 36,131 shares of the pipeline company’s stock worth $714,000 after buying an additional 618 shares during the last quarter. Finally, CWA Asset Management Group LLC raised its stake in shares of Energy Transfer by 26.1% during the 3rd quarter. CWA Asset Management Group LLC now owns 51,442 shares of the pipeline company’s stock worth $1,017,000 after buying an additional 10,650 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ET. Melius Research began coverage on shares of Energy Transfer in a report on Tuesday, September 22nd. They issued a “hold” rating and a $25.00 price target on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. Wall Street Zen upgraded Energy Transfer from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Stifel Nicolaus assumed coverage on shares of Energy Transfer in a research note on Thursday, September 10th. They set a “buy” rating and a $25.00 price target on the stock. Finally, Mizuho set a $26.00 price objective on shares of Energy Transfer in a research note on Tuesday, October 13th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.60.

Energy Transfer Stock Up 3.0%

Shares of NYSEAMERICAN ET opened at $20.13 on Thursday. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $21.84. The company has a market cap of $69.31 billion, a P/E ratio of 13.69 and a beta of 0.60. The company has a current ratio of 1.16, a quick ratio of 0.94 and a debt-to-equity ratio of 1.45. The stock has a fifty day moving average price of $20.84 and a 200 day moving average price of $20.05.

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

Energy Transfer Increases Dividend

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

Insider Buying and Selling

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

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.