Energy Transfer LP (NYSE:ET) Shares Bought by Truist Financial Corp

Truist Financial Corp raised its stake in shares of Energy Transfer LP (NYSE:ET) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 925,211 shares of the pipeline company’s stock after purchasing an additional 3,278 shares during the period. Truist Financial Corp’s holdings in Energy Transfer were worth $12,768,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC raised its stake in Energy Transfer by 88.2% during the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares during the period. Harbor Investment Advisory LLC raised its stake in Energy Transfer by 42.9% during the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 750 shares during the period. BluePath Capital Management LLC purchased a new position in Energy Transfer during the third quarter worth about $37,000. Community Bank N.A. raised its stake in Energy Transfer by 55.9% during the fourth quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock worth $37,000 after purchasing an additional 951 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in Energy Transfer during the fourth quarter worth about $40,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of ET opened at $15.48 on Thursday. Energy Transfer LP has a 1-year low of $12.18 and a 1-year high of $16.07. The stock has a market cap of $52.16 billion, a PE ratio of 14.20 and a beta of 1.64. The firm has a 50-day simple moving average of $15.42 and a two-hundred day simple moving average of $14.37. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The firm had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 earnings per share. As a group, analysts forecast that Energy Transfer LP will post 1.57 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 13th will be issued a $0.317 dividend. The ex-dividend date is Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 8.19%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 115.60%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ET shares. Citigroup lifted their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. UBS Group dropped their price target on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. Finally, Mizuho reiterated a “buy” rating and set a $19.00 price target (up from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $18.00.

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.