Keybank National Association OH Purchases 39,724 Shares of Energy Transfer LP $ET

Keybank National Association OH raised its position in shares of Energy Transfer LP (NYSE:ET) by 18.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,372 shares of the pipeline company’s stock after acquiring an additional 39,724 shares during the period. Keybank National Association OH’s holdings in Energy Transfer were worth $4,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. CNB Bank raised its position in shares of Energy Transfer by 111.1% during the 2nd quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after buying an additional 1,000 shares in the last quarter. HHM Wealth Advisors LLC raised 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 purchasing an additional 800 shares during the period. Core Alternative Capital purchased a new position in shares of Energy Transfer in the 3rd quarter worth approximately $46,000. FSC Wealth Advisors LLC purchased a new stake in Energy Transfer during the 2nd quarter valued at $50,000. Finally, Golden State Wealth Management LLC increased its position in 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 valued at $50,000 after acquiring an additional 817 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays restated an “overweight” rating and set a $22.00 price objective (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. Jefferies Financial Group set a $17.00 target price on Energy Transfer and gave the company a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research report on Wednesday, January 7th. Finally, Royal Bank Of Canada upgraded shares of Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Insider Buying and Selling

In related news, Director Kelcy L. Warren purchased 1,000,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the acquisition, the director directly owned 104,577,803 shares in the company, valued at $1,772,593,760.85. This trade represents a 0.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.28% of the stock is owned by insiders.

Energy Transfer Stock Performance

NYSE ET opened at $18.42 on Monday. The firm has a market capitalization of $63.24 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 0.96 and a beta of 0.66. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41. The stock’s fifty day moving average is $16.88 and its two-hundred day moving average is $17.08. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.16.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The business had revenue of $19.95 billion during the quarter, compared to analysts’ expectations of $21.84 billion. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue was down 3.9% on a year-over-year basis. On average, research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Friday, February 6th will be issued a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a yield of 7.3%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, February 6th. Energy Transfer’s dividend payout ratio (DPR) is 106.40%.

Energy Transfer Profile

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.