Keybank National Association OH Has $3.84 Million Stock Position in Energy Transfer LP $ET

Keybank National Association OH lifted its position in shares of Energy Transfer LP (NYSE:ET) by 9.6% in the second quarter, Holdings Channel reports. The institutional investor owned 211,648 shares of the pipeline company’s stock after acquiring an additional 18,499 shares during the period. Keybank National Association OH’s holdings in Energy Transfer were worth $3,837,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ET. Ryan Investment Management Inc. bought a new position in shares of Energy Transfer in the second quarter worth $31,000. Vision Financial Markets LLC bought a new position in shares of Energy Transfer in the first quarter worth $33,000. CNB Bank increased its position in shares of Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 1,000 shares during the period. Stone House Investment Management LLC bought a new position in shares of Energy Transfer in the first quarter worth $38,000. Finally, N.E.W. Advisory Services LLC bought a new position in Energy Transfer in the first quarter valued at about $40,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE:ET opened at $16.85 on Friday. The stock has a market cap of $57.82 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 1.01 and a beta of 0.78. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The stock’s 50-day moving average is $17.13 and its 200-day moving average is $17.42. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45.

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

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Friday, November 7th will be issued a dividend of $0.3325 per share. This represents a $1.33 annualized dividend and a dividend yield of 7.9%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, November 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 102.33%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. UBS Group reiterated a “buy” rating and issued a $22.00 target price on shares of Energy Transfer in a research report on Wednesday, October 15th. TD Cowen assumed coverage on Energy Transfer in a research report on Monday, July 7th. They issued a “buy” rating and a $22.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Finally, Cowen assumed coverage on Energy Transfer in a research report on Monday, July 7th. They issued a “buy” rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.23.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren acquired 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 completion of the purchase, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 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.