10,502 Shares in Energy Transfer LP $ET Acquired by Kingdom Financial Group LLC.

Kingdom Financial Group LLC. bought a new stake in shares of Energy Transfer LP (NYSE:ET) in the second quarter, Holdings Channel.com reports. The institutional investor bought 10,502 shares of the pipeline company’s stock, valued at approximately $190,000.

Several other institutional investors and hedge funds have also bought and sold shares of ET. Vanguard Personalized Indexing Management LLC increased its position in shares of Energy Transfer by 1.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company’s stock worth $723,000 after purchasing an additional 565 shares in the last quarter. Indiana Trust & Investment Management Co boosted its position in shares of Energy Transfer by 5.1% in the 1st quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company’s stock worth $219,000 after purchasing an additional 576 shares in the last quarter. Beam Wealth Advisors Inc. grew its stake in Energy Transfer by 1.5% during the 1st quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company’s stock worth $742,000 after buying an additional 585 shares during the last quarter. Bogart Wealth LLC increased its position in Energy Transfer by 1.9% during the 2nd quarter. Bogart Wealth LLC now owns 32,788 shares of the pipeline company’s stock valued at $594,000 after buying an additional 604 shares in the last quarter. Finally, MCF Advisors LLC increased its position in Energy Transfer by 7.2% during the 2nd quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company’s stock valued at $167,000 after buying an additional 616 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ET has been the subject of several recent analyst reports. Morgan Stanley lowered their price target on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. UBS Group reiterated a “buy” rating and issued a $22.00 target price on shares of Energy Transfer in a research note on Wednesday, October 15th. Scotiabank dropped their target price on shares of Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a research report on Thursday, November 13th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.08.

Energy Transfer Trading Up 0.2%

Energy Transfer stock opened at $16.97 on Wednesday. The stock has a 50-day moving average price of $16.94 and a 200 day moving average price of $17.41. The company has a market capitalization of $58.27 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The business had revenue of $19.95 billion for the quarter, compared to analysts’ expectations of $21.84 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 earnings per share. Sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th will be issued a $0.3325 dividend. The ex-dividend date of this dividend is Friday, November 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 annualized dividend and a yield of 7.8%. Energy Transfer’s dividend payout ratio is currently 106.40%.

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.