Whittier Trust Co. of Nevada Inc. Purchases New Shares in Energy Transfer LP (NYSE:ET)

Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Energy Transfer LP (NYSE:ET) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 353,240 shares of the pipeline company’s stock, valued at approximately $6,920,000.

Other hedge funds also recently made changes to their positions in the company. Watts Gwilliam & Co. LLC bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of Energy Transfer by 4.0% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after purchasing an additional 293,088 shares in the last quarter. Forvis Mazars Wealth Advisors LLC boosted its position in shares of Energy Transfer by 164.1% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company’s stock valued at $1,186,000 after purchasing an additional 37,633 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in shares of Energy Transfer by 30.9% during the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after purchasing an additional 57,184 shares in the last quarter. Finally, Paragon Capital Management Ltd boosted its position in shares of Energy Transfer by 435.5% during the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after purchasing an additional 55,890 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. UBS Group reissued a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Stifel Nicolaus boosted their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Wells Fargo & Company boosted their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Barclays boosted their target price on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Citigroup boosted their target price on Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Stock Down 0.6 %

ET stock opened at $18.83 on Friday. Energy Transfer LP has a 1-year low of $14.90 and a 1-year high of $21.45. The business has a fifty day moving average price of $19.59 and a 200-day moving average price of $18.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The stock has a market capitalization of $64.62 billion, a P/E ratio of 14.71, a P/E/G ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Equities analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.90%. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 101.56%.

Energy Transfer Company 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.