PNC Financial Services Group Inc. Has $6.51 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

PNC Financial Services Group Inc. cut its position in Energy Transfer LP (NYSE:ET) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 332,044 shares of the pipeline company’s stock after selling 1,844 shares during the period. PNC Financial Services Group Inc.’s holdings in Energy Transfer were worth $6,505,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. FMR LLC grew its position in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the period. Chickasaw Capital Management LLC increased its holdings in Energy Transfer by 2.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after buying an additional 388,073 shares during the period. Brookfield Corp ON increased its holdings in Energy Transfer by 2.8% in the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock valued at $210,896,000 after buying an additional 352,625 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Energy Transfer by 36.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after purchasing an additional 3,106,631 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in shares of Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after purchasing an additional 3,013,973 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Citigroup boosted their target price on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, February 25th. Stifel Nicolaus upped their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. The Goldman Sachs Group upped their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Barclays upped their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada increased their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and an average target price of $21.55.

Energy Transfer Trading Up 3.3 %

Shares of Energy Transfer stock opened at $18.42 on Thursday. Energy Transfer LP has a 12-month low of $14.90 and a 12-month high of $21.45. The company has a market cap of $63.19 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 0.64 and a beta of 1.72. 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 company’s 50-day moving average price is $19.70 and its 200-day moving average price is $18.14.

Energy Transfer (NYSE:ET) last announced 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 return on equity of 11.56% and a net margin of 5.74%. On average, equities analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were paid a $0.325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

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.