Prospera Financial Services Inc Boosts Holdings in Energy Transfer LP (NYSE:ET)

Prospera Financial Services Inc grew its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 10.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 345,963 shares of the pipeline company's stock after buying an additional 32,250 shares during the quarter. Prospera Financial Services Inc's holdings in Energy Transfer were worth $5,553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tortoise Capital Advisors L.L.C. raised its holdings in Energy Transfer by 12.7% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company's stock worth $594,769,000 after purchasing an additional 4,141,715 shares during the period. International Assets Investment Management LLC raised its holdings in Energy Transfer by 1,491.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company's stock worth $67,020,000 after purchasing an additional 3,913,266 shares during the period. Pathway Financial Advisers LLC raised its holdings in Energy Transfer by 1,837.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company's stock worth $21,489,000 after purchasing an additional 1,269,778 shares during the period. Merewether Investment Management LP raised its holdings in Energy Transfer by 22.3% in the 2nd quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company's stock worth $106,919,000 after purchasing an additional 1,200,501 shares during the period. Finally, Progeny 3 Inc. raised its holdings in Energy Transfer by 104.6% in the 1st quarter. Progeny 3 Inc. now owns 2,205,785 shares of the pipeline company's stock worth $34,697,000 after purchasing an additional 1,127,500 shares during the period. 38.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ET has been the topic of a number of recent research reports. Bank of America initiated coverage on Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 target price on the stock. UBS Group raised their price target on Energy Transfer from $22.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada raised their price target on Energy Transfer from $19.00 to $20.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer presently has a consensus rating of "Buy" and an average target price of $20.00.

Energy Transfer Trading Up 1.8 %

NYSE ET traded up $0.33 during trading on Wednesday, hitting $18.29. The stock had a trading volume of 28,416,731 shares, compared to its average volume of 13,482,127. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The stock has a market capitalization of $62.62 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 0.53 and a beta of 1.66. Energy Transfer LP has a one year low of $13.11 and a one year high of $18.37. The stock has a 50 day simple moving average of $16.50 and a 200 day simple moving average of $16.13.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The company's revenue was up .2% on a year-over-year basis. Sell-side analysts predict that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a yield of 7.05%. The ex-dividend date was Friday, November 8th. Energy Transfer's dividend payout ratio (DPR) is 94.85%.

Insider Buying and Selling

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the business's stock in a transaction on Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the executive vice president now owns 591,211 shares of the company's stock, valued at $9,270,188.48. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.28% of the stock is currently owned by insiders.

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.