CreativeOne Wealth LLC Acquires 7,239 Shares of Energy Transfer LP $ET

CreativeOne Wealth LLC increased its stake in shares of Energy Transfer LP (NYSE:ET) by 15.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,656 shares of the pipeline company’s stock after acquiring an additional 7,239 shares during the quarter. CreativeOne Wealth LLC’s holdings in Energy Transfer were worth $1,009,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Ryan Investment Management Inc. bought a new position in shares of Energy Transfer during the 2nd quarter worth about $31,000. Vision Financial Markets LLC bought a new stake in shares of Energy Transfer in the first quarter valued at about $33,000. CNB Bank grew its position in Energy Transfer by 111.1% during the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after buying an additional 1,000 shares in the last quarter. Stone House Investment Management LLC bought a new position in Energy Transfer during the first quarter valued at about $38,000. Finally, N.E.W. Advisory Services LLC bought a new position in Energy Transfer during the first quarter valued at about $40,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Energy Transfer

In other news, Director Kelcy L. Warren bought 1,000,000 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was bought at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the purchase, the director owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. The trade was a 0.97% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.28% of the company’s stock.

Wall Street Analyst Weigh In

ET has been the subject of a number of research reports. Morgan Stanley reduced their price objective on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, August 26th. Barclays restated an “overweight” rating and issued a $25.00 target price on shares of Energy Transfer in a research note on Wednesday, October 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Jefferies Financial Group set a $17.00 price target on shares of Energy Transfer and gave the company a “hold” rating in a report on Tuesday, October 28th. Finally, UBS Group reaffirmed a “buy” rating and set a $22.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.92.

Energy Transfer Stock Performance

Energy Transfer stock opened at $16.45 on Friday. The firm has a market capitalization of $56.48 billion, a P/E ratio of 12.75, a P/E/G ratio of 1.01 and a beta of 0.76. The stock has a fifty day moving average price of $16.81 and a two-hundred day moving average price of $17.39. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92.

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

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were paid a dividend of $0.3325 per share. 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 8.1%. The ex-dividend date of this dividend was Friday, November 7th. Energy Transfer’s 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.