Signal Advisors Wealth LLC Makes New Investment in Energy Transfer LP $ET

Signal Advisors Wealth LLC bought a new stake in shares of Energy Transfer LP (NYSE:ET) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 40,508 shares of the pipeline company’s stock, valued at approximately $782,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ET. Basepoint Wealth LLC bought a new stake in shares of Energy Transfer during the 4th quarter worth about $25,000. Gables Capital Management Inc. lifted its holdings in Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 600 shares during the last quarter. Sarver Vrooman Wealth Advisors acquired a new stake in Energy Transfer in the 4th quarter worth approximately $32,000. Financial Life Planners bought a new stake in Energy Transfer during the third quarter worth approximately $34,000. Finally, Navalign LLC acquired a new position in Energy Transfer during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ET. Citigroup reissued a “buy” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 7th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Morgan Stanley lifted 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. Jefferies Financial Group raised shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research report on Friday, June 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $23.45.

Energy Transfer Stock Down 1.5%

Shares of ET stock opened at $18.93 on Thursday. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $20.70. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The firm has a market cap of $65.14 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 1.11 and a beta of 0.55. The stock has a 50 day moving average of $19.42 and a 200-day moving average of $18.48.

Energy Transfer (NYSE:ET) last announced 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). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The company had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. During the same quarter in the previous year, the business posted $0.36 EPS. The company’s revenue was up 32.1% on a year-over-year basis. On average, equities analysts predict that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a $0.3375 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.35 annualized dividend and a yield of 7.1%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio (DPR) is 112.50%.

About Energy Transfer

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.