Symphony Financial Services Inc. Invests $459,000 in Energy Transfer LP $ET

Symphony Financial Services Inc. acquired a new stake in shares of Energy Transfer LP (NYSE:ET) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 26,773 shares of the pipeline company’s stock, valued at approximately $459,000.

Other large investors have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC boosted its holdings in Energy Transfer by 54.4% in the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock worth $41,000 after acquiring an additional 800 shares in the last quarter. Core Alternative Capital purchased a new position in shares of Energy Transfer in the 3rd quarter worth about $46,000. FSC Wealth Advisors LLC bought a new position in Energy Transfer in the 2nd quarter worth about $50,000. Clearstead Trust LLC purchased a new stake in Energy Transfer during the 3rd quarter valued at about $50,000. Finally, Golden State Wealth Management LLC grew its position in Energy Transfer by 38.9% during the 3rd quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock valued at $50,000 after purchasing an additional 817 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Down 1.3%

ET stock opened at $18.86 on Wednesday. The company has a market cap of $64.88 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 1.01 and a beta of 0.63. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. The business’s 50-day moving average is $17.78 and its two-hundred day moving average is $17.23. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $19.30.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The business had revenue of $25.32 billion for the quarter, compared to analysts’ expectations of $23.56 billion. During the same period in the previous year, the company earned $0.29 EPS. Energy Transfer’s revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were issued a dividend of $0.335 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend was Friday, February 6th. Energy Transfer’s dividend payout ratio is currently 110.74%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ET. Morgan Stanley decreased their target price on shares of Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, December 2nd. Weiss Ratings restated a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. TD Cowen upped their price objective on Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Barclays reiterated an “overweight” rating and set a $22.00 target price (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Energy Transfer in a research note on Wednesday, February 18th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $21.20.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.