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

Arkadios Wealth Advisors increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 322.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 113,412 shares of the pipeline company’s stock after purchasing an additional 86,596 shares during the period. Arkadios Wealth Advisors’ holdings in Energy Transfer were worth $1,840,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Northwest Financial Advisors acquired a new position in Energy Transfer during the 4th quarter valued at about $25,000. LRI Investments LLC acquired a new stake in Energy Transfer in the first quarter valued at approximately $29,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Energy Transfer in the 4th quarter valued at about $33,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Energy Transfer during the fourth quarter worth about $34,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of Energy Transfer in the fourth quarter valued at about $37,000. 38.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Energy Transfer Stock Up 0.5 %

Shares of Energy Transfer stock traded up $0.08 on Thursday, hitting $15.96. 8,504,634 shares of the company’s stock traded hands, compared to its average volume of 13,475,574. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The firm’s 50-day moving average is $16.08 and its 200 day moving average is $15.66. The stock has a market cap of $53.79 billion, a P/E ratio of 14.54, a PEG ratio of 0.42 and a beta of 1.66. Energy Transfer LP has a 52-week low of $12.90 and a 52-week high of $16.50.

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

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.02%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s payout ratio is 117.43%.

Insider Activity at Energy Transfer

In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the transaction, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The stock was bought at an average price 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 in the company, valued at approximately $1,934,686,992. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas E. Long acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 3,040,000 shares of company stock valued at $47,667,200. Corporate insiders own 3.28% of the company’s stock.

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.