US Bancorp DE Grows Position in Energy Transfer LP $ET

US Bancorp DE lifted its position in shares of Energy Transfer LP (NYSE:ET) by 9.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 781,439 shares of the pipeline company’s stock after purchasing an additional 68,612 shares during the quarter. US Bancorp DE’s holdings in Energy Transfer were worth $13,409,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. HHM Wealth Advisors LLC grew its position in Energy Transfer by 54.4% during the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after buying an additional 800 shares during the period. Core Alternative Capital purchased a new stake in shares of Energy Transfer during the 3rd quarter worth about $46,000. FSC Wealth Advisors LLC acquired a new stake in Energy Transfer in the second quarter valued at approximately $50,000. Clearstead Trust LLC purchased a new stake in Energy Transfer in the 3rd quarter worth $50,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Energy Transfer by 38.9% during the third quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock worth $50,000 after purchasing an additional 817 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Energy Transfer in a research note on Wednesday, December 24th. JPMorgan Chase & Co. lowered their price objective on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Energy Transfer in a report on Wednesday, February 18th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and an average price target of $21.20.

Energy Transfer Price Performance

Shares of ET opened at $18.82 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.22 and a quick ratio of 0.90. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $19.51. The stock has a market cap of $64.73 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 0.97 and a beta of 0.66. The firm has a fifty day moving average price of $17.67 and a 200 day moving average price of $17.21.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.09). The firm had revenue of $25.32 billion for the quarter, compared to analyst estimates of $23.56 billion. Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 EPS. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were issued a $0.335 dividend. The ex-dividend date of this dividend was Friday, February 6th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a dividend yield of 7.1%. Energy Transfer’s dividend payout ratio is currently 110.74%.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.