Keybank National Association OH Grows Stock Holdings in Energy Transfer LP (NYSE:ET)

Keybank National Association OH raised its position in shares of Energy Transfer LP (NYSE:ET) by 2.7% during the fourth quarter, HoldingsChannel reports. The firm owned 197,981 shares of the pipeline company’s stock after purchasing an additional 5,281 shares during the period. Keybank National Association OH’s holdings in Energy Transfer were worth $3,878,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Disciplined Investments LLC increased its holdings in shares of Energy Transfer by 4.0% in the fourth quarter. Disciplined Investments LLC now owns 42,360 shares of the pipeline company’s stock worth $830,000 after buying an additional 1,615 shares during the period. Ariston Services Group increased its holdings in shares of Energy Transfer by 94.8% in the fourth quarter. Ariston Services Group now owns 29,782 shares of the pipeline company’s stock worth $583,000 after buying an additional 14,492 shares during the period. Exencial Wealth Advisors LLC increased its holdings in shares of Energy Transfer by 1.0% in the fourth quarter. Exencial Wealth Advisors LLC now owns 90,894 shares of the pipeline company’s stock worth $1,781,000 after buying an additional 901 shares during the period. Bedel Financial Consulting Inc. purchased a new position in shares of Energy Transfer in the fourth quarter worth about $383,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Energy Transfer by 3.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 374,374 shares of the pipeline company’s stock worth $7,334,000 after buying an additional 11,833 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Down 1.4 %

ET stock opened at $18.21 on Thursday. Energy Transfer LP has a fifty-two week low of $14.87 and a fifty-two week high of $21.45. The business’s 50 day moving average price is $19.87 and its two-hundred day moving average price is $18.08. 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 capitalization of $62.47 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69.

Energy Transfer (NYSE:ET) last posted 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%. As a group, analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.14%. Energy Transfer’s dividend payout ratio is 101.56%.

Wall Street Analysts Forecast Growth

ET has been the topic of several analyst reports. The Goldman Sachs Group lifted their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a report on Tuesday. Citigroup boosted their price target on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Wells Fargo & Company boosted their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Barclays boosted their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. 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 company presently has an average rating of “Moderate Buy” and an average price target of $21.55.

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.