Citizens Financial Group Inc. RI Invests $396,000 in Energy Transfer LP (NYSE:ET)

Citizens Financial Group Inc. RI purchased a new stake in Energy Transfer LP (NYSE:ET) during the third quarter, HoldingsChannel reports. The firm purchased 24,683 shares of the pipeline company’s stock, valued at approximately $396,000.

Other large investors have also added to or reduced their stakes in the company. Strategy Asset Managers LLC bought a new position in Energy Transfer in the 3rd quarter valued at about $299,000. Segall Bryant & Hamill LLC bought a new position in shares of Energy Transfer during the third quarter worth approximately $2,656,000. Prospera Private Wealth LLC lifted its holdings in Energy Transfer by 1,680.2% during the 3rd quarter. Prospera Private Wealth LLC now owns 774,194 shares of the pipeline company’s stock worth $12,426,000 after purchasing an additional 730,706 shares during the last quarter. Avior Wealth Management LLC boosted its stake in Energy Transfer by 45.5% in the 3rd quarter. Avior Wealth Management LLC now owns 60,868 shares of the pipeline company’s stock valued at $977,000 after purchasing an additional 19,045 shares during the period. Finally, Prospera Financial Services Inc grew its holdings in Energy Transfer by 10.3% in the 3rd quarter. Prospera Financial Services Inc now owns 345,963 shares of the pipeline company’s stock valued at $5,553,000 after buying an additional 32,250 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.5 %

Shares of Energy Transfer stock opened at $19.07 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 12-month low of $13.11 and a 12-month high of $19.20. The company has a market capitalization of $65.29 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 0.61 and a beta of 1.66. The firm’s 50-day moving average price is $16.66 and its two-hundred day moving average price is $16.18.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same period last year, the firm posted $0.31 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts forecast that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.76%. Energy Transfer’s dividend payout ratio is currently 94.85%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Royal Bank of Canada boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Energy Transfer currently has an average rating of “Buy” and a consensus price target of $20.00.

About Energy Transfer

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.