Haverford Trust Co Sells 2,612 Shares of Energy Transfer LP (NYSE:ET)

Haverford Trust Co trimmed its stake in shares of Energy Transfer LP (NYSE:ET) by 2.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,564 shares of the pipeline company’s stock after selling 2,612 shares during the period. Haverford Trust Co’s holdings in Energy Transfer were worth $1,950,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. FMR LLC grew its position in shares of Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after purchasing an additional 10,195,768 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its stake in Energy Transfer by 7.7% during the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company’s stock valued at $469,920,000 after buying an additional 1,723,683 shares during the last quarter. Chickasaw Capital Management LLC grew its holdings in Energy Transfer by 2.5% during the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after buying an additional 388,073 shares in the last quarter. Brookfield Corp ON increased its stake in Energy Transfer by 2.8% in the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after acquiring an additional 352,625 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after acquiring an additional 3,106,631 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ET has been the topic of several research 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 research report on Tuesday, March 4th. Stifel Nicolaus lifted their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Royal Bank of Canada upped their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Wells Fargo & Company lifted 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 equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Trading Up 1.4 %

Shares of NYSE ET opened at $18.86 on Tuesday. Energy Transfer LP has a fifty-two week low of $14.90 and a fifty-two week high of $21.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The company has a market cap of $64.71 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 0.64 and a beta of 1.72. The business’s 50 day moving average price is $19.56 and its 200-day moving average price is $18.31.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. On average, sell-side analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a dividend of $0.325 per share. 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. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.89%. Energy Transfer’s dividend payout ratio (DPR) is 101.56%.

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.