Truist Financial Corp Sells 145,141 Shares of Energy Transfer LP (NYSE:ET)

Truist Financial Corp cut its stake in Energy Transfer LP (NYSE:ET) by 15.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 793,196 shares of the pipeline company’s stock after selling 145,141 shares during the period. Truist Financial Corp’s holdings in Energy Transfer were worth $15,539,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ET. Blue Trust Inc. raised its stake in shares of Energy Transfer by 173.1% in the third quarter. Blue Trust Inc. now owns 11,783 shares of the pipeline company’s stock worth $191,000 after acquiring an additional 7,468 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Energy Transfer by 37.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 47,192 shares of the pipeline company’s stock worth $757,000 after buying an additional 12,787 shares during the period. Signaturefd LLC grew its position in shares of Energy Transfer by 12.6% during the 3rd quarter. Signaturefd LLC now owns 27,419 shares of the pipeline company’s stock worth $440,000 after buying an additional 3,075 shares during the period. Eastern Bank acquired a new stake in shares of Energy Transfer during the 3rd quarter worth approximately $109,000. Finally, Tempus Wealth Planning LLC grew its position in shares of Energy Transfer by 13.7% during the 3rd quarter. Tempus Wealth Planning LLC now owns 13,342 shares of the pipeline company’s stock worth $214,000 after buying an additional 1,612 shares during the period. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Down 0.7 %

Energy Transfer stock opened at $19.98 on Friday. The stock has a market capitalization of $68.54 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 0.53 and a beta of 1.69. Energy Transfer LP has a twelve month low of $14.52 and a twelve month high of $21.45. 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 company has a 50 day moving average of $19.86 and a 200-day moving average of $17.87.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.66%. On average, equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.51%. The ex-dividend date of this dividend was Friday, February 7th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 101.56%.

Analysts Set New Price Targets

Several brokerages have recently commented on ET. Stifel Nicolaus lifted their price target on shares of 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 lifted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. 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 report on Thursday, December 19th. Finally, Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus target price 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.