Toronto Dominion Bank Invests $48.43 Million in Energy Transfer LP (NYSE:ET)

Toronto Dominion Bank acquired a new position in shares of Energy Transfer LP (NYSE:ET) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,472,000 shares of the pipeline company’s stock, valued at approximately $48,426,000. Toronto Dominion Bank owned 0.07% of Energy Transfer as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Scissortail Wealth Management LLC acquired a new stake in shares of Energy Transfer in the fourth quarter valued at $225,000. Second Line Capital LLC boosted its holdings in Energy Transfer by 9.4% during the 4th quarter. Second Line Capital LLC now owns 25,728 shares of the pipeline company’s stock valued at $504,000 after acquiring an additional 2,219 shares during the period. Recurrent Investment Advisors LLC grew its position in Energy Transfer by 3.0% in the 4th quarter. Recurrent Investment Advisors LLC now owns 4,720,835 shares of the pipeline company’s stock valued at $92,481,000 after acquiring an additional 139,588 shares in the last quarter. Progeny 3 Inc. increased its stake in Energy Transfer by 1.9% during the fourth quarter. Progeny 3 Inc. now owns 2,307,785 shares of the pipeline company’s stock worth $45,210,000 after purchasing an additional 43,700 shares during the period. Finally, Pathstone Holdings LLC increased its stake in Energy Transfer by 3.3% during the fourth quarter. Pathstone Holdings LLC now owns 822,356 shares of the pipeline company’s stock worth $16,110,000 after purchasing an additional 25,909 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analysts Set New Price Targets

ET has been the subject of several recent research reports. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Wells Fargo & Company reduced their price objective on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Morgan Stanley increased their price target on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.09.

Energy Transfer Trading Down 0.1%

ET opened at $17.96 on Friday. The business’s 50-day simple moving average is $17.48 and its 200-day simple moving average is $18.56. The company has a market cap of $61.63 billion, a P/E ratio of 14.03, a PEG ratio of 0.64 and a beta of 0.77. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The company had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. As a group, equities research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.3275 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.31 annualized dividend and a dividend yield of 7.29%. Energy Transfer’s dividend payout ratio (DPR) is presently 99.24%.

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.