Arkadios Wealth Advisors Has $1.84 Million Stake in Energy Transfer LP (NYSE:ET)

Arkadios Wealth Advisors raised its stake in Energy Transfer LP (NYSE:ET - Free Report) by 322.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,412 shares of the pipeline company's stock after buying an additional 86,596 shares during the quarter. Arkadios Wealth Advisors' holdings in Energy Transfer were worth $1,840,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Northwest Financial Advisors purchased a new stake in shares of Energy Transfer in the 4th quarter valued at $25,000. LRI Investments LLC purchased a new stake in Energy Transfer during the first quarter worth about $29,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Energy Transfer during the fourth quarter worth about $33,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Energy Transfer in the fourth quarter valued at approximately $34,000. Finally, EdgeRock Capital LLC purchased a new position in shares of Energy Transfer in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 38.22% of the company's stock.

Energy Transfer Stock Performance

ET stock traded up $0.08 on Thursday, hitting $15.96. The company's stock had a trading volume of 8,641,673 shares, compared to its average volume of 13,476,388. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.50. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The stock has a market cap of $53.79 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.42 and a beta of 1.66. The firm has a 50 day moving average of $16.09 and a two-hundred day moving average of $15.66.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. Energy Transfer's quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company posted $0.25 EPS. Equities analysts predict that Energy Transfer LP will post 1.49 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a dividend yield of 8.02%. Energy Transfer's dividend payout ratio (DPR) is currently 117.43%.

Wall Street Analyst Weigh In

ET has been the subject of several recent research reports. Mizuho raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, June 18th. Morgan Stanley upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an "overweight" rating in a research note on Monday, June 10th. JPMorgan Chase & Co. increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an "overweight" rating in a research report on Thursday, June 20th. UBS Group boosted their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Wednesday, May 15th. Finally, Stifel Nicolaus lifted their price target on Energy Transfer from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Energy Transfer presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.29.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, CEO Thomas E. Long acquired 20,000 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares of the company's stock, valued at $67,562,909.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Thomas E. Long purchased 20,000 shares of the business's stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company's stock, valued at approximately $67,562,909.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kelcy L. Warren bought 3,000,000 shares of the company's stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares of the company's stock, valued at approximately $1,934,686,992. The disclosure for this purchase can be found here. In the last three months, insiders have bought 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by company insiders.

Energy Transfer Company 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.