Kingsview Wealth Management LLC Buys 25,998 Shares of Energy Transfer LP (NYSE:ET)

Kingsview Wealth Management LLC increased its position in shares of Energy Transfer LP (NYSE:ET) by 10.7% in the 4th quarter, HoldingsChannel reports. The firm owned 268,040 shares of the pipeline company’s stock after acquiring an additional 25,998 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Energy Transfer were worth $5,251,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Princeton Global Asset Management LLC grew its holdings in shares of Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. increased its position in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares during the period. GAMMA Investing LLC acquired a new position in shares of Energy Transfer during the fourth quarter worth $29,000. Financial Life Planners bought a new position in Energy Transfer during the 4th quarter worth $37,000. Finally, Continuum Advisory LLC grew its position in shares of Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after buying an additional 729 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ET has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Barclays increased their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group upped their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Royal Bank of Canada increased their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Trading Down 2.2 %

Shares of Energy Transfer stock opened at $19.92 on Friday. Energy Transfer LP has a 1 year low of $13.80 and a 1 year high of $21.45. The firm has a market cap of $68.19 billion, a PE ratio of 14.64, a P/E/G ratio of 0.52 and a beta of 1.69. The stock has a fifty day moving average price of $19.71 and a 200-day moving average price of $17.64. 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 (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same quarter last year, the firm posted $0.31 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be issued a $0.325 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.53%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 94.85%.

About Energy Transfer

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.