Total Clarity Wealth Management Inc. Has $314,000 Stock Position in Energy Transfer LP (NYSE:ET)

Total Clarity Wealth Management Inc. increased its holdings in Energy Transfer LP (NYSE:ET) by 14.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,333 shares of the pipeline company’s stock after acquiring an additional 2,377 shares during the period. Total Clarity Wealth Management Inc.’s holdings in Energy Transfer were worth $314,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. LRI Investments LLC bought a new position in Energy Transfer during the 1st quarter valued at $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Energy Transfer during the fourth quarter valued at about $34,000. Adirondack Trust Co. bought a new position in shares of Energy Transfer during the fourth quarter valued at about $42,000. EdgeRock Capital LLC purchased a new position in Energy Transfer during the second quarter worth about $42,000. Finally, Hudson Edge Investment Partners Inc. bought a new stake in Energy Transfer in the 2nd quarter worth about $42,000. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ET has been the topic of several recent analyst reports. Mizuho lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Morgan Stanley lifted their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. Finally, JPMorgan Chase & Co. boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.29.

Energy Transfer Stock Performance

Shares of ET stock opened at $16.17 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The firm has a market cap of $54.49 billion, a P/E ratio of 14.83, a PEG ratio of 0.46 and a beta of 1.66. The company has a 50 day moving average of $16.06 and a 200-day moving average of $15.80. Energy Transfer LP has a 12-month low of $12.90 and a 12-month high of $16.50.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. Energy Transfer’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the company posted $0.25 earnings per share. Sell-side analysts anticipate that Energy Transfer LP will post 1.4 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 annualized dividend and a yield of 7.92%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Insider Activity at Energy Transfer

In other Energy Transfer news, CEO Thomas E. Long bought 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was purchased 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 of the company’s stock, valued at $67,562,909.12. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of the company’s stock in a transaction that occurred 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 purchase, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 price 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 approximately $1,934,686,992. The disclosure for this purchase can be found here. In the last three months, insiders have bought 3,040,000 shares of company stock worth $47,667,200. 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.