Trust Co. of Toledo NA OH Takes $1.77 Million Position in Energy Transfer LP $ET

Trust Co. of Toledo NA OH purchased a new stake in Energy Transfer LP (NYSE:ET) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 97,439 shares of the pipeline company’s stock, valued at approximately $1,767,000.

Other hedge funds have also bought and sold shares of the company. Ryan Investment Management Inc. acquired a new stake in Energy Transfer in the 2nd quarter valued at $31,000. Vision Financial Markets LLC acquired a new stake in Energy Transfer in the 1st quarter valued at $33,000. Stone House Investment Management LLC acquired a new stake in Energy Transfer in the 1st quarter valued at $38,000. HWG Holdings LP acquired a new stake in Energy Transfer in the 1st quarter valued at $38,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Energy Transfer in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET opened at $16.30 on Friday. The firm’s fifty day moving average price is $17.34 and its two-hundred day moving average price is $17.47. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. The company has a market capitalization of $55.95 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 0.98 and a beta of 0.78. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $19.24 billion for the quarter, compared to the consensus estimate of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. As a group, analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were issued a $0.33 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.1%. Energy Transfer’s payout ratio is presently 102.33%.

Analyst Ratings Changes

ET has been the subject of several research reports. TD Cowen initiated coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a “buy” rating and a $22.00 price target for the company. Wells Fargo & Company reissued an “overweight” rating and issued a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Morgan Stanley cut their price objective on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Tuesday, August 26th. Scotiabank initiated coverage on shares of Energy Transfer in a report on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday. Fourteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average price target of $22.50.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the acquisition, the director owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. This represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.28% of the company’s stock.

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.