Glenmede Trust Co. NA Has $12.92 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

Glenmede Trust Co. NA grew its stake in shares of Energy Transfer LP (NYSE:ET) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 805,159 shares of the pipeline company’s stock after buying an additional 24,375 shares during the quarter. Glenmede Trust Co. NA’s holdings in Energy Transfer were worth $12,923,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC raised its stake in Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after buying an additional 10,195,768 shares during the period. Tortoise Capital Advisors L.L.C. increased its holdings in shares of Energy Transfer by 12.7% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock valued at $594,769,000 after acquiring an additional 4,141,715 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Energy Transfer by 1,491.0% during the third quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company’s stock worth $67,020,000 after purchasing an additional 3,913,266 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Energy Transfer by 36.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after purchasing an additional 3,106,631 shares in the last quarter. Finally, Citigroup Inc. grew its position in Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after purchasing an additional 3,013,973 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Up 1.1 %

NYSE:ET opened at $19.42 on Friday. Energy Transfer LP has a 52 week low of $13.11 and a 52 week high of $19.71. The firm has a 50-day moving average price of $16.91 and a two-hundred day moving average price of $16.27. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The firm has a market cap of $66.49 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same period last year, the business posted $0.31 earnings per share. Energy Transfer’s revenue was up .2% on a year-over-year basis. On average, equities analysts expect that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ET shares. Royal Bank of Canada raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, UBS Group boosted their price objective on 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 company has an average rating of “Buy” and an average target price of $20.00.

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.