ORG Wealth Partners LLC Purchases Shares of 343,843 Energy Transfer LP (NYSE:ET)

ORG Wealth Partners LLC acquired a new stake in shares of Energy Transfer LP (NYSE:ET) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 343,843 shares of the pipeline company’s stock, valued at approximately $5,519,000. Energy Transfer makes up 2.1% of ORG Wealth Partners LLC’s investment portfolio, making the stock its 5th largest holding.

Several other large investors have also recently made changes to their positions in ET. LRI Investments LLC bought a new position in shares of Energy Transfer in the 1st quarter valued at about $29,000. HWG Holdings LP bought a new stake in Energy Transfer in the second quarter worth $33,000. Sugarloaf Wealth Management LLC boosted its stake in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares during the period. Ables Iannone Moore & Associates Inc. bought a new position in Energy Transfer during the 4th quarter valued at about $34,000. Finally, Hudson Edge Investment Partners Inc. purchased a new stake in shares of Energy Transfer in the second quarter worth approximately $42,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Down 0.1 %

Shares of NYSE ET opened at $16.50 on Monday. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.64. The company has a market capitalization of $55.61 billion, a P/E ratio of 15.16, a P/E/G ratio of 0.50 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The company has a 50 day simple moving average of $16.04 and a 200-day simple moving average of $15.92.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. Energy Transfer’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 earnings per share. On average, equities research analysts predict that Energy Transfer LP will post 1.35 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 paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.76%. This is a positive change 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%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Mizuho increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Finally, UBS Group lifted their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Insider Buying and Selling

In other news, CEO Thomas E. Long purchased 20,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the transaction, the chief executive officer now directly owns 4,308,859 shares in the company, valued at $67,562,909.12. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Thomas E. Long bought 20,000 shares of Energy Transfer stock in a transaction on 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 acquisition, the chief executive officer now owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 3,040,000 shares of company stock valued at $47,667,200 over the last quarter. Company insiders own 3.28% of the company’s stock.

Energy Transfer 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.