WASHINGTON TRUST Co Raises Position in Energy Transfer LP (NYSE:ET)

WASHINGTON TRUST Co raised its stake in Energy Transfer LP (NYSE:ET) by 18.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,999 shares of the pipeline company’s stock after purchasing an additional 1,400 shares during the quarter. WASHINGTON TRUST Co’s holdings in Energy Transfer were worth $176,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Empowered Funds LLC increased its position in shares of Energy Transfer by 15.0% during the third quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock valued at $5,567,000 after acquiring an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of Energy Transfer by 4.0% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 7,586,598 shares of the pipeline company’s stock valued at $148,621,000 after acquiring an additional 293,088 shares during the last quarter. Kingsview Wealth Management LLC increased its position in shares of Energy Transfer by 30.9% during the third quarter. Kingsview Wealth Management LLC now owns 242,042 shares of the pipeline company’s stock valued at $3,885,000 after acquiring an additional 57,184 shares during the last quarter. Finally, Paragon Capital Management Ltd grew its holdings in Energy Transfer by 435.5% during the fourth quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after purchasing an additional 55,890 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Trading Up 0.8 %

Shares of ET stock opened at $19.98 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The business has a 50-day moving average price of $19.78 and a two-hundred day moving average price of $17.76. Energy Transfer LP has a 12-month low of $14.09 and a 12-month high of $21.45. The firm has a market cap of $68.42 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Equities analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th will be paid a dividend of $0.325 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.51%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 94.85%.

Analysts Set New Price Targets

ET has been the subject of several research reports. The Goldman Sachs Group increased their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Wells Fargo & Company raised their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada raised their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Barclays raised their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Stifel Nicolaus raised their price target on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.18.

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.