Energy Transfer LP (NYSE:ET) Shares Purchased by M&T Bank Corp

M&T Bank Corp boosted its position in shares of Energy Transfer LP (NYSE:ET) by 14.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 174,368 shares of the pipeline company’s stock after acquiring an additional 22,155 shares during the period. M&T Bank Corp’s holdings in Energy Transfer were worth $2,799,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Princeton Global Asset Management LLC lifted its position in shares of Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. lifted its holdings in Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after buying an additional 1,668 shares during the last quarter. HWG Holdings LP acquired a new position in shares of Energy Transfer during the 2nd quarter worth about $33,000. Continuum Advisory LLC increased its holdings in shares of Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 729 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC raised its position in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Down 0.8 %

Shares of NYSE:ET opened at $19.05 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The stock has a market cap of $65.23 billion, a P/E ratio of 14.01, a P/E/G ratio of 0.63 and a beta of 1.70. Energy Transfer LP has a 1-year low of $13.54 and a 1-year high of $20.02. The firm has a fifty day moving average price of $17.58 and a 200 day moving average price of $16.53.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the company posted $0.31 earnings per share. Sell-side analysts predict that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.77%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

Analyst Ratings Changes

ET has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. UBS Group upped their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Bank of America initiated coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $20.38.

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.