Wilmington Savings Fund Society FSB Has $6.37 Million Holdings in Energy Transfer LP (NYSE:ET)

Wilmington Savings Fund Society FSB raised its position in Energy Transfer LP (NYSE:ET) by 40.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

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 3rd quarter. Empowered Funds LLC now owns 346,825 shares of the pipeline company’s stock worth $5,567,000 after purchasing an additional 45,172 shares during the last quarter. Watts Gwilliam & Co. LLC acquired a new position in Energy Transfer during the fourth quarter worth $1,297,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in 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 worth $148,621,000 after acquiring an additional 293,088 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in Energy Transfer by 30.9% in 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 position in shares of Energy Transfer by 435.5% in the 4th quarter. Paragon Capital Management Ltd now owns 68,724 shares of the pipeline company’s stock valued at $1,346,000 after acquiring an additional 55,890 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Down 2.2 %

Shares of ET opened at $19.92 on Friday. Energy Transfer LP has a 52 week low of $13.80 and a 52 week high of $21.45. The stock has a fifty day moving average of $19.71 and a 200-day moving average of $17.64. 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 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 released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 quarter in the prior year, the firm posted $0.31 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 6.53%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, February 7th. Energy Transfer’s dividend payout ratio is presently 94.85%.

Analyst Ratings Changes

Several analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Bank of America started coverage on Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Royal Bank of Canada lifted their target price 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. Barclays boosted their price objective on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Wells Fargo & Company lifted 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. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

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.