Atria Wealth Solutions Inc. Has $7.25 Million Holdings in Energy Transfer LP (NYSE:ET)

Atria Wealth Solutions Inc. lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 12.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 525,578 shares of the pipeline company’s stock after purchasing an additional 56,173 shares during the period. Atria Wealth Solutions Inc.’s holdings in Energy Transfer were worth $7,253,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ET. Rise Advisors LLC lifted its holdings in shares of Energy Transfer by 88.2% during the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares during the period. Harbor Investment Advisory LLC lifted its holdings in Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after buying an additional 750 shares during the period. BluePath Capital Management LLC acquired a new position in Energy Transfer in the third quarter valued at $37,000. Fortitude Family Office LLC acquired a new position in Energy Transfer in the fourth quarter valued at $40,000. Finally, Activest Wealth Management lifted its holdings in Energy Transfer by 33.9% in the fourth quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock valued at $40,000 after buying an additional 736 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Mizuho restated a “buy” rating and issued a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Citigroup boosted their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, UBS Group decreased their price target on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Energy Transfer Stock Down 0.3 %

ET traded down $0.05 during midday trading on Friday, hitting $15.89. The company had a trading volume of 667,283 shares, compared to its average volume of 12,223,693. Energy Transfer LP has a 52 week low of $12.18 and a 52 week high of $16.04. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $53.54 billion, a price-to-earnings ratio of 14.63 and a beta of 1.64. The stock’s 50 day moving average price is $15.33 and its 200 day moving average price is $14.31.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.29 by $0.08. The company had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.34 earnings per share. On average, research analysts anticipate that Energy Transfer LP will post 1.48 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a $0.317 dividend. The ex-dividend date is Friday, May 10th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a yield of 7.98%. Energy Transfer’s dividend payout ratio is currently 115.60%.

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.