5,671 Shares in Energy Transfer LP (NYSE:ET) Purchased by BankPlus Trust Department

BankPlus Trust Department purchased a new position in Energy Transfer LP (NYSE:ET) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,671 shares of the pipeline company’s stock, valued at approximately $111,000.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC bought a new position in Energy Transfer in the 4th quarter worth about $29,000. Princeton Global Asset Management LLC lifted its stake in Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares during the period. Assetmark Inc. lifted its stake in 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 period. Financial Life Planners bought a new position in Energy Transfer during the 4th quarter valued at about $37,000. Finally, Citizens National Bank Trust Department bought a new position in Energy Transfer during the 4th quarter valued at about $39,000. Institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ET shares. Royal Bank of Canada upped their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Stifel Nicolaus upped their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Wells Fargo & Company increased their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group boosted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.50.

Energy Transfer Stock Down 2.2 %

ET stock opened at $18.96 on Tuesday. The business’s 50-day moving average price is $19.88 and its 200-day moving average price is $17.95. The stock has a market cap of $65.04 billion, a P/E ratio of 14.81, a PEG ratio of 0.64 and a beta of 1.69. 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 twelve month low of $14.52 and a twelve month high of $21.45.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results 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 net margin of 5.74% and a return on equity of 11.56%. On average, equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 6.86%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 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.