Energy Transfer LP (NYSE:ET) Position Increased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust raised its holdings in shares of Energy Transfer LP (NYSE:ET) by 12.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,436 shares of the pipeline company’s stock after purchasing an additional 1,996 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Energy Transfer were worth $241,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ET. Alps Advisors Inc. boosted its stake in shares of Energy Transfer by 14.5% during the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock valued at $1,033,541,000 after buying an additional 9,341,798 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Energy Transfer by 38.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock valued at $353,576,000 after purchasing an additional 7,097,074 shares in the last quarter. UBS Group AG raised its holdings in shares of Energy Transfer by 3.9% during the 3rd quarter. UBS Group AG now owns 25,274,342 shares of the pipeline company’s stock valued at $354,599,000 after purchasing an additional 953,251 shares in the last quarter. Chickasaw Capital Management LLC raised its holdings in Energy Transfer by 7.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 15,222,571 shares of the pipeline company’s stock worth $210,071,000 after acquiring an additional 1,060,322 shares during the period. Finally, Barclays PLC raised its holdings in Energy Transfer by 31.1% in the 3rd quarter. Barclays PLC now owns 12,378,222 shares of the pipeline company’s stock worth $173,666,000 after acquiring an additional 2,933,353 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Price Performance

Shares of Energy Transfer stock traded down $0.07 during trading on Wednesday, hitting $15.83. 3,627,506 shares of the company’s stock traded hands, compared to its average volume of 12,356,643. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. The firm’s fifty day moving average price is $15.27 and its 200 day moving average price is $14.29. Energy Transfer LP has a twelve month low of $12.18 and a twelve month high of $16.04. The company has a market cap of $53.34 billion, a PE ratio of 14.58 and a beta of 1.64.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The firm had revenue of $20.53 billion for the quarter, compared to analyst estimates of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share. Analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were paid a $0.315 dividend. The ex-dividend date was Tuesday, February 6th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.26 dividend on an annualized basis and a dividend yield of 7.96%. Energy Transfer’s payout ratio is currently 115.60%.

Analysts Set New Price Targets

ET has been the topic of several recent analyst reports. Mizuho reiterated a “buy” rating and issued a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. UBS Group dropped their target price on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Finally, Citigroup lifted their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

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.