Prospera Private Wealth LLC Buys 730,706 Shares of Energy Transfer LP (NYSE:ET)

Prospera Private Wealth LLC increased its position in Energy Transfer LP (NYSE:ET) by 1,680.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 774,194 shares of the pipeline company’s stock after purchasing an additional 730,706 shares during the quarter. Energy Transfer accounts for 2.3% of Prospera Private Wealth LLC’s portfolio, making the stock its 7th biggest holding. Prospera Private Wealth LLC’s holdings in Energy Transfer were worth $12,426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ET. Avior Wealth Management LLC grew its position in Energy Transfer by 45.5% in the 3rd quarter. Avior Wealth Management LLC now owns 60,868 shares of the pipeline company’s stock valued at $977,000 after purchasing an additional 19,045 shares during the period. Prospera Financial Services Inc increased its position in shares of Energy Transfer by 10.3% during the third quarter. Prospera Financial Services Inc now owns 345,963 shares of the pipeline company’s stock worth $5,553,000 after acquiring an additional 32,250 shares in the last quarter. MAI Capital Management raised its holdings in shares of Energy Transfer by 5.9% in the 3rd quarter. MAI Capital Management now owns 698,113 shares of the pipeline company’s stock worth $11,205,000 after acquiring an additional 39,029 shares during the last quarter. TrinityPoint Wealth LLC bought a new position in Energy Transfer in the 3rd quarter valued at about $392,000. Finally, Thrivent Financial for Lutherans boosted its stake in Energy Transfer by 57.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 21,671 shares of the pipeline company’s stock valued at $348,000 after purchasing an additional 7,870 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. This trade represents a 3.50 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.28% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Energy Transfer Trading Up 2.2 %

Shares of Energy Transfer stock opened at $17.96 on Wednesday. The stock has a fifty day moving average price of $16.50 and a 200-day moving average price of $16.13. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The firm has a market cap of $61.49 billion, a PE ratio of 13.21, a P/E/G ratio of 0.53 and a beta of 1.66. Energy Transfer LP has a 1 year low of $13.11 and a 1 year high of $18.08.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS 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 business had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 7.18%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

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.