U.S. Capital Wealth Advisors LLC Has $15.92 Million Stock Position in Energy Transfer LP (NYSE:ET)

23 Oct 2024, 17:00 by Tristan Rich · The Markets Daily

U.S. Capital Wealth Advisors LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET – Free Report) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 991,848 shares of the pipeline company’s stock after purchasing an additional 19,551 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Energy Transfer were worth $15,919,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Tortoise Capital Advisors L.L.C. increased its stake in shares of Energy Transfer by 12.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after purchasing an additional 4,141,715 shares during the last quarter. Natixis increased its position in Energy Transfer by 20.0% during the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after buying an additional 2,999,300 shares during the last quarter. Payden & Rygel Investment Group bought a new stake in Energy Transfer in the first quarter valued at approximately $20,164,000. Merewether Investment Management LP lifted its position in shares of Energy Transfer by 22.3% in the second quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock valued at $106,919,000 after buying an additional 1,200,501 shares during the last quarter. Finally, Progeny 3 Inc. boosted its stake in shares of Energy Transfer by 104.6% during the 1st quarter. Progeny 3 Inc. now owns 2,205,785 shares of the pipeline company’s stock worth $34,697,000 after acquiring an additional 1,127,500 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Insider Activity at Energy Transfer

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kelcy L. Warren acquired 3,000,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 3,040,000 shares of company stock valued at $47,667,200 over the last quarter. 3.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of research analyst reports. 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 target on the stock. 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. Finally, Royal Bank of Canada lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $20.00.

Check Out Our Latest Report on ET

Energy Transfer Stock Performance

Shares of ET stock traded down $0.02 on Wednesday, hitting $16.36. The company’s stock had a trading volume of 2,168,751 shares, compared to its average volume of 13,051,090. Energy Transfer LP has a fifty-two week low of $12.90 and a fifty-two week high of $16.64. The company has a market capitalization of $55.13 billion, a PE ratio of 15.03, a PEG ratio of 0.50 and a beta of 1.66. The stock’s 50 day moving average is $16.14 and its 200-day moving average is $15.95. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14.

Energy Transfer (NYSE:ET – Get Free Report) last announced 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). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same quarter in the previous year, the company earned $0.25 EPS. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. Equities research analysts expect that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were given a $0.32 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.82%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

Energy Transfer Company Profile

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