Wilmington Savings Fund Society FSB Acquires 93,845 Shares of Energy Transfer LP (NYSE:ET)

Wilmington Savings Fund Society FSB boosted its holdings in Energy Transfer LP (NYSE:ET) by 40.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 325,243 shares of the pipeline company’s stock after purchasing an additional 93,845 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Energy Transfer were worth $6,372,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC lifted its position in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. increased its stake in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Energy Transfer during the 4th quarter worth approximately $29,000. Financial Life Planners purchased a new position in shares of Energy Transfer in the 4th quarter worth approximately $37,000. Finally, Continuum Advisory LLC grew its holdings in shares of Energy Transfer by 44.8% in the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 729 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. The Goldman Sachs Group lifted their price target on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Bank of America began coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Barclays increased their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Wells Fargo & Company boosted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada raised their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.82.

Energy Transfer Trading Down 2.2 %

Shares of ET stock opened at $19.92 on Friday. Energy Transfer LP has a 1 year low of $13.80 and a 1 year high of $21.45. The company’s fifty day simple moving average is $19.71 and its two-hundred day simple moving average is $17.64. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The stock has a market capitalization of $68.19 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 0.52 and a beta of 1.69.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter last year, the company earned $0.31 EPS. The firm’s revenue was up .2% compared to the same quarter last year. As a group, analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.53%. The ex-dividend date of this dividend is 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 94.85%.

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.