Private Trust Co. NA Increases Stake in Energy Transfer LP $ET

Private Trust Co. NA increased its holdings in Energy Transfer LP (NYSE:ET) by 31.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,782 shares of the pipeline company’s stock after purchasing an additional 5,401 shares during the period. Private Trust Co. NA’s holdings in Energy Transfer were worth $413,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Energy Transfer by 1.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company’s stock valued at $723,000 after purchasing an additional 565 shares in the last quarter. Indiana Trust & Investment Management Co boosted its stake in shares of Energy Transfer by 5.1% in the 1st quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company’s stock valued at $219,000 after purchasing an additional 576 shares in the last quarter. Beam Wealth Advisors Inc. boosted its stake in shares of Energy Transfer by 1.5% in the 1st quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company’s stock valued at $742,000 after purchasing an additional 585 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of Energy Transfer by 7.2% in the 2nd quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company’s stock valued at $167,000 after purchasing an additional 616 shares in the last quarter. Finally, Chicago Capital LLC boosted its stake in shares of Energy Transfer by 2.6% in the 2nd quarter. Chicago Capital LLC now owns 24,056 shares of the pipeline company’s stock valued at $436,000 after purchasing an additional 618 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 1.4%

NYSE:ET opened at $16.44 on Monday. The company has a 50-day moving average price of $17.23 and a 200-day moving average price of $17.38. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The stock has a market cap of $56.43 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 0.97 and a beta of 0.78.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm had revenue of $19.24 billion during the quarter, compared to analysts’ expectations of $24.07 billion. During the same period last year, the company posted $0.35 EPS. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. Equities analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 8.0%. The ex-dividend date was Friday, August 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio (DPR) is 102.33%.

Analyst Ratings Changes

ET has been the subject of several analyst reports. TD Cowen initiated coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating and a $22.00 price target for the company. Wells Fargo & Company reissued an “overweight” rating and set a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. UBS Group reissued a “buy” rating and set a $22.00 price target on shares of Energy Transfer in a research report on Wednesday, October 15th. Finally, Cowen initiated coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating for the company. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.67.

Insider Activity

In other Energy Transfer news, Director Kelcy L. Warren purchased 1,350,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was bought at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the purchase, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.28% of the stock is currently owned by insiders.

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.