Blue Trust Inc. Purchases 2,345 Shares of Energy Transfer LP (NYSE:ET)

Blue Trust Inc. raised its position in shares of Energy Transfer LP (NYSE:ET) by 19.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,128 shares of the pipeline company’s stock after purchasing an additional 2,345 shares during the quarter. Blue Trust Inc.’s holdings in Energy Transfer were worth $277,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Private Client Services LLC increased its position in shares of Energy Transfer by 3.1% during the 4th quarter. Private Client Services LLC now owns 16,915 shares of the pipeline company’s stock worth $331,000 after purchasing an additional 511 shares during the last quarter. Daymark Wealth Partners LLC grew its position in Energy Transfer by 0.3% in the 4th quarter. Daymark Wealth Partners LLC now owns 160,678 shares of the pipeline company’s stock valued at $3,148,000 after buying an additional 547 shares during the last quarter. Marcum Wealth LLC lifted its holdings in Energy Transfer by 4.6% in the fourth quarter. Marcum Wealth LLC now owns 12,847 shares of the pipeline company’s stock valued at $252,000 after acquiring an additional 561 shares during the period. Financial Freedom LLC boosted its position in Energy Transfer by 26.8% during the fourth quarter. Financial Freedom LLC now owns 2,906 shares of the pipeline company’s stock worth $57,000 after purchasing an additional 614 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its stake in shares of Energy Transfer by 1.7% during the 4th quarter. Flagship Harbor Advisors LLC now owns 36,381 shares of the pipeline company’s stock worth $713,000 after purchasing an additional 617 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET stock opened at $20.47 on Monday. Energy Transfer LP has a one year low of $13.79 and a one year high of $21.45. The stock has a market cap of $70.08 billion, a PE ratio of 15.05, a price-to-earnings-growth ratio of 0.54 and a beta of 1.70. 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 50-day moving average of $19.59 and a 200-day moving average of $17.50.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The business 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%. Energy Transfer’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 earnings per share. As a group, sell-side analysts expect that Energy Transfer LP will post 1.36 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Friday, February 7th will be given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 6.35%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ET shares. Wells Fargo & Company lifted their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Royal Bank of Canada increased their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group raised their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Bank of America initiated coverage on Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. Finally, Barclays upped their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer 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.