Wilmington Savings Fund Society FSB Increases Position in Energy Transfer LP (NYSE:ET)

Wilmington Savings Fund Society FSB boosted its position in Energy Transfer LP (NYSE:ET) by 1,265.0% in the 3rd quarter, Holdings Channel reports. The fund owned 231,398 shares of the pipeline company’s stock after purchasing an additional 214,446 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Energy Transfer were worth $3,714,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Princeton Global Asset Management LLC increased its stake in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. increased its stake in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares during the last quarter. HWG Holdings LP purchased a new position in shares of Energy Transfer during the 2nd quarter worth about $33,000. Sugarloaf Wealth Management LLC boosted its position in shares of Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares during the last quarter. Finally, Continuum Advisory LLC grew its holdings in Energy Transfer by 44.8% in the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 729 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Trading Up 0.2 %

NYSE ET opened at $19.21 on Friday. The stock has a market cap of $65.77 billion, a P/E ratio of 14.13, a PEG ratio of 0.63 and a beta of 1.70. The company’s fifty day simple moving average is $17.52 and its 200-day simple moving average is $16.50. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 52 week low of $13.22 and a 52 week high of $20.02.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.31 EPS. Equities research analysts predict that Energy Transfer LP will post 1.32 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.72%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group increased their price target 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. Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Finally, Royal Bank of Canada lifted their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday. Eight 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 $20.38.

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.