Prospera Private Wealth LLC Grows Position in Energy Transfer LP (NYSE:ET)

Prospera Private Wealth LLC boosted its position in Energy Transfer LP (NYSE:ET - Free Report) by 1,680.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 774,194 shares of the pipeline company's stock after purchasing an additional 730,706 shares during the period. Energy Transfer makes up approximately 2.3% of Prospera Private Wealth LLC's investment portfolio, making the stock its 7th biggest holding. Prospera Private Wealth LLC's holdings in Energy Transfer were worth $12,426,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ET. Empowered Funds LLC grew its holdings in Energy Transfer by 15.0% during the 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company's stock worth $5,567,000 after acquiring an additional 45,172 shares in the last quarter. Berkley W R Corp grew its holdings in shares of Energy Transfer by 11.6% during the first quarter. Berkley W R Corp now owns 5,334,494 shares of the pipeline company's stock valued at $83,912,000 after buying an additional 555,445 shares during the last quarter. GFS Advisors LLC increased its holdings in shares of Energy Transfer by 19,380.5% in the third quarter. GFS Advisors LLC now owns 60,000 shares of the pipeline company's stock valued at $963,000 after purchasing an additional 59,692 shares during the period. Cetera Investment Advisers boosted its position in Energy Transfer by 491.3% in the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company's stock valued at $20,297,000 after buying an additional 1,072,144 shares during the last quarter. Finally, MAI Capital Management increased its holdings in Energy Transfer by 5.9% in the 3rd quarter. MAI Capital Management now owns 698,113 shares of the pipeline company's stock worth $11,205,000 after buying an additional 39,029 shares during the period. Hedge funds and other institutional investors own 38.22% of the company's stock.

Energy Transfer Stock Performance

Shares of ET traded up $0.15 during trading hours on Wednesday, reaching $18.11. 10,934,814 shares of the company's stock traded hands, compared to its average volume of 13,404,519. Energy Transfer LP has a twelve month low of $13.11 and a twelve month high of $18.29. The firm has a market capitalization of $62.01 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 0.53 and a beta of 1.66. The business's fifty day simple moving average is $16.50 and its two-hundred day simple moving average is $16.13. 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the previous year, the firm posted $0.31 earnings per share. The firm's revenue was up .2% on a year-over-year basis. Analysts predict that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 7.12%. The ex-dividend date was Friday, November 8th. Energy Transfer's dividend payout ratio (DPR) is presently 94.85%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Bank of America assumed coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a "buy" rating and a $20.00 price objective on the stock. Finally, UBS Group increased their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $20.00.

Insider Transactions at Energy Transfer

In related news, EVP Gregory G. Mcilwain bought 20,000 shares of the business's stock in a transaction on Friday, August 23rd. The shares were purchased at an average price of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares of the company's stock, valued at $9,270,188.48. This represents a 3.50 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.28% of the stock is 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.