Kingsman Wealth Management Inc. Decreases Stock Position in Energy Transfer LP $ET

Kingsman Wealth Management Inc. decreased its position in Energy Transfer LP (NYSE:ET) by 55.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,614 shares of the pipeline company’s stock after selling 30,371 shares during the quarter. Kingsman Wealth Management Inc.’s holdings in Energy Transfer were worth $422,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ET. Ryan Investment Management Inc. acquired a new stake in Energy Transfer during the 2nd quarter valued at $31,000. CNB Bank lifted its holdings in Energy Transfer by 111.1% in the 2nd 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. HHM Wealth Advisors LLC boosted its position in Energy Transfer by 54.4% in the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after buying an additional 800 shares during the last quarter. Crowley Wealth Management Inc. acquired a new stake in shares of Energy Transfer during the second quarter valued at about $44,000. Finally, Pacific Center for Financial Services grew its stake in shares of Energy Transfer by 34.7% during the first quarter. Pacific Center for Financial Services now owns 2,586 shares of the pipeline company’s stock valued at $48,000 after acquiring an additional 666 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ET shares. Barclays reiterated an “overweight” rating and issued a $25.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. UBS Group restated a “buy” rating and set a $22.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Morgan Stanley reduced their target price on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, December 2nd. Scotiabank dropped their price target on shares of Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a research note on Thursday, November 13th. Finally, Royal Bank Of Canada raised shares of Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Thirteen equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.75.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren acquired 1,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The shares were purchased 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 directly owned 104,577,803 shares in the company, valued at $1,772,593,760.85. The trade was a 0.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 3.28% of the stock is currently owned by corporate insiders.

Energy Transfer Price Performance

Shares of NYSE ET opened at $16.54 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $56.77 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 0.98 and a beta of 0.65. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The business has a 50 day simple moving average of $16.63 and a 200-day simple moving average of $17.16.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The firm had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. During the same quarter last year, the business earned $0.32 earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, equities research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Friday, November 7th were issued a $0.3325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.33 annualized dividend and a dividend yield of 8.0%. Energy Transfer’s dividend payout ratio (DPR) is presently 106.40%.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.