WCG Wealth Advisors LLC Boosts Stake in Energy Transfer LP $ET

WCG Wealth Advisors LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 227.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 49,009 shares of the pipeline company’s stock after purchasing an additional 34,033 shares during the period. WCG Wealth Advisors LLC’s holdings in Energy Transfer were worth $808,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Alps Advisors Inc. lifted its holdings in Energy Transfer by 4.5% during the 3rd quarter. Alps Advisors Inc. now owns 77,651,021 shares of the pipeline company’s stock worth $1,332,492,000 after buying an additional 3,366,734 shares in the last quarter. Invesco Ltd. lifted its holdings in Energy Transfer by 3.2% during the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock worth $992,923,000 after buying an additional 1,773,042 shares in the last quarter. Energy Income Partners LLC lifted its holdings in Energy Transfer by 1.4% during the 3rd quarter. Energy Income Partners LLC now owns 23,351,183 shares of the pipeline company’s stock worth $400,706,000 after buying an additional 326,653 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Energy Transfer by 2.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company’s stock worth $375,777,000 after buying an additional 544,944 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in Energy Transfer during the 3rd quarter worth approximately $264,309,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Price Performance

Energy Transfer stock opened at $19.44 on Friday. The stock has a market cap of $66.89 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 1.12 and a beta of 0.55. The company has a fifty day simple moving average of $19.47 and a 200-day simple moving average of $18.26. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $20.70. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.Energy Transfer’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same period last year, the firm posted $0.36 earnings per share. Equities analysts expect that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a dividend of $0.3375 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.35 annualized dividend and a dividend yield of 6.9%. Energy Transfer’s dividend payout ratio is presently 112.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ET shares. Wells Fargo & Company increased their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. TD Cowen reiterated a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Wednesday, May 13th. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Finally, Morgan Stanley increased their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $23.45.

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.