TIAA Trust National Association Has $308,000 Stock Position in Energy Transfer LP (NYSE:ET)

TIAA Trust National Association grew its holdings in shares of Energy Transfer LP (NYSE:ET) by 7.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,702 shares of the pipeline company’s stock after acquiring an additional 1,031 shares during the period. TIAA Trust National Association’s holdings in Energy Transfer were worth $308,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Mountain Hill Investment Partners Corp. bought a new position in Energy Transfer during the 4th quarter worth $25,000. GAMMA Investing LLC bought a new position in shares of Energy Transfer during the fourth quarter worth about $29,000. United Community Bank acquired a new position in shares of Energy Transfer in the fourth quarter worth approximately $35,000. Financial Life Planners bought a new stake in Energy Transfer in the fourth quarter valued at approximately $37,000. Finally, Tortoise Investment Management LLC increased its position in Energy Transfer by 111.1% during the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.9 %

NYSE ET opened at $18.72 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 52 week low of $14.90 and a 52 week high of $21.45. The business has a 50 day moving average price of $19.46 and a 200-day moving average price of $18.36. The company has a market cap of $64.22 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 0.64 and a beta of 1.72.

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

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a $0.325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.95%. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of recent analyst reports. Barclays boosted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price target on shares of Energy Transfer in a report on Tuesday. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research note on Monday. Finally, Wells Fargo & Company upped their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and an average target price of $22.09.

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.