10,073 Shares in Energy Transfer LP (NYSE:ET) Acquired by Community Trust & Investment Co.

Community Trust & Investment Co. purchased a new stake in shares of Energy Transfer LP (NYSE:ET) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,073 shares of the pipeline company’s stock, valued at approximately $197,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Princeton Global Asset Management LLC lifted its stake 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 buying an additional 650 shares during the last quarter. Assetmark Inc. lifted its position in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after acquiring an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Energy Transfer during the fourth quarter worth approximately $29,000. HWG Holdings LP acquired a new position in shares of Energy Transfer in the second quarter valued at approximately $33,000. Finally, Sugarloaf Wealth Management LLC increased its stake in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares during the period. 38.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group boosted their price target on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada boosted their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays raised their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday. Wells Fargo & Company boosted their price objective 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. Finally, Bank of America started coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.82.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $19.89 on Wednesday. Energy Transfer LP has a 1 year low of $13.60 and a 1 year high of $20.02. The stock has a market capitalization of $68.10 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 0.62 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 company’s 50 day simple moving average is $18.85 and its 200 day simple moving average is $17.12.

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

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.49%. Energy Transfer’s dividend payout ratio (DPR) is currently 94.85%.

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.