Energy Transfer LP (NYSE:ET) Shares Acquired by US Bancorp DE

US Bancorp DE lifted its position in shares of Energy Transfer LP (NYSE:ET) by 242.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 493,107 shares of the pipeline company’s stock after purchasing an additional 349,307 shares during the period. US Bancorp DE’s holdings in Energy Transfer were worth $9,660,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Princeton Global Asset Management LLC increased 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 worth $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. increased its position in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,668 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Energy Transfer during the fourth quarter worth about $29,000. Financial Life Planners acquired a new stake in shares of Energy Transfer during the fourth quarter worth about $37,000. Finally, Citizens National Bank Trust Department purchased a new position in shares of Energy Transfer during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of ET opened at $19.04 on Tuesday. The stock’s 50 day moving average is $19.92 and its two-hundred day moving average is $18.07. Energy Transfer LP has a twelve month low of $14.87 and a twelve month high of $21.45. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $65.33 billion, a PE ratio of 14.88, a P/E/G ratio of 0.64 and a beta of 1.69.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current 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 given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 6.83%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 101.56%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. 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. The Goldman Sachs Group raised 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. 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. 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, February 12th. Finally, 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. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

About Energy Transfer

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.