Kiely Wealth Advisory Group Inc. Takes Position in Energy Transfer LP (NYSE:ET)

Kiely Wealth Advisory Group Inc. bought a new stake in Energy Transfer LP (NYSE:ET) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 12,862 shares of the pipeline company’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Ironwood Investment Counsel LLC raised its stake in Energy Transfer by 16.5% during the third quarter. Ironwood Investment Counsel LLC now owns 16,949 shares of the pipeline company’s stock valued at $272,000 after buying an additional 2,404 shares during the last quarter. Progeny 3 Inc. raised its stake in Energy Transfer by 1.9% during the third quarter. Progeny 3 Inc. now owns 2,264,085 shares of the pipeline company’s stock valued at $36,339,000 after buying an additional 42,700 shares during the last quarter. Captrust Financial Advisors raised its stake in Energy Transfer by 6.1% during the third quarter. Captrust Financial Advisors now owns 502,486 shares of the pipeline company’s stock valued at $8,065,000 after buying an additional 29,076 shares during the last quarter. Icon Wealth Advisors LLC raised its stake in Energy Transfer by 4.6% during the third quarter. Icon Wealth Advisors LLC now owns 173,904 shares of the pipeline company’s stock valued at $2,791,000 after buying an additional 7,706 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in Energy Transfer by 0.4% during the third quarter. Rockefeller Capital Management L.P. now owns 3,497,601 shares of the pipeline company’s stock valued at $56,137,000 after buying an additional 12,545 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

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

Energy Transfer Stock Performance

Shares of ET opened at $19.86 on Friday. The firm has a market capitalization of $68.00 billion, a P/E ratio of 14.60, a PEG ratio of 0.62 and a beta of 1.66. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer LP has a one year low of $13.11 and a one year high of $20.02. The business has a fifty day moving average of $16.99 and a 200 day moving average of $16.30.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 earnings per share. As a group, sell-side 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. Investors of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 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.