Energy Transfer LP (NYSE:ET) Holdings Boosted by Private Trust Co. NA

Private Trust Co. NA grew its stake in shares of Energy Transfer LP (NYSE:ET) by 19.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,213 shares of the pipeline company’s stock after purchasing an additional 3,983 shares during the quarter. Private Trust Co. NA’s holdings in Energy Transfer were worth $389,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ET. Silvercrest Asset Management Group LLC lifted its stake in Energy Transfer by 31.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 159,264 shares of the pipeline company’s stock valued at $2,505,000 after buying an additional 38,383 shares during the last quarter. Tidal Investments LLC boosted its stake in Energy Transfer by 12.9% during the 1st quarter. Tidal Investments LLC now owns 86,196 shares of the pipeline company’s stock valued at $1,342,000 after purchasing an additional 9,849 shares during the period. LRI Investments LLC bought a new position in Energy Transfer in the 1st quarter worth about $29,000. Sanibel Captiva Trust Company Inc. increased its stake in shares of Energy Transfer by 18.5% in the first quarter. Sanibel Captiva Trust Company Inc. now owns 23,875 shares of the pipeline company’s stock valued at $376,000 after purchasing an additional 3,725 shares during the period. Finally, Burney Co. raised its holdings in shares of Energy Transfer by 288.1% during the first quarter. Burney Co. now owns 63,046 shares of the pipeline company’s stock valued at $992,000 after buying an additional 46,800 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ET has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Bank of America assumed coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Finally, UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $20.00.

Energy Transfer Trading Up 1.0 %

Shares of ET stock opened at $19.40 on Thursday. The stock has a 50-day simple moving average of $16.85 and a 200 day simple moving average of $16.25. The stock has a market capitalization of $66.42 billion, a P/E ratio of 14.26, a P/E/G ratio of 0.61 and a beta of 1.66. Energy Transfer LP has a fifty-two week low of $13.11 and a fifty-two week high of $19.71. 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 (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm had revenue of $20.77 billion during 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 revenue for the quarter was up .2% compared to the same quarter last year. On average, sell-side analysts expect that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company 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. This represents a $1.29 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is presently 94.85%.

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.