Community Trust & Investment Co. Purchases New Position in Energy Transfer LP (NYSE:ET)

Community Trust & Investment Co. acquired a new stake in shares of Energy Transfer LP (NYSE:ET) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,073 shares of the pipeline company’s stock, valued at approximately $197,000.

Several other large investors have also recently bought and sold shares of the company. SeaCrest Wealth Management LLC grew its holdings in shares of Energy Transfer by 27.0% in the 4th quarter. SeaCrest Wealth Management LLC now owns 33,621 shares of the pipeline company’s stock valued at $659,000 after buying an additional 7,147 shares during the period. Breakwater Capital Group bought a new position in Energy Transfer during the fourth quarter worth about $404,000. Rosenberg Matthew Hamilton grew its stake in Energy Transfer by 52.5% in the fourth quarter. Rosenberg Matthew Hamilton now owns 3,050 shares of the pipeline company’s stock valued at $60,000 after acquiring an additional 1,050 shares during the period. Marcum Wealth LLC increased its holdings in shares of Energy Transfer by 4.6% in the fourth quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock worth $252,000 after acquiring an additional 561 shares in the last quarter. Finally, Eastern Bank raised its position in shares of Energy Transfer by 14.7% during the fourth quarter. Eastern Bank now owns 7,790 shares of the pipeline company’s stock worth $153,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

ET opened at $19.89 on Wednesday. The business’s 50-day simple moving average is $18.85 and its 200 day simple moving average is $17.12. Energy Transfer LP has a 52-week low of $13.60 and a 52-week high of $20.02. 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 capitalization of $68.10 billion, a PE ratio of 14.63, a PEG ratio of 0.62 and a beta of 1.70.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the prior year, the business posted $0.31 EPS. The business’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts expect that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.49%. Energy Transfer’s payout ratio is 94.85%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ET. UBS Group boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Barclays upped their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday. Royal Bank of Canada raised their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group boosted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Finally, Wells Fargo & Company increased 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. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $20.82.

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.