United Community Bank Takes Position in Energy Transfer LP (NYSE:ET)

United Community Bank purchased a new stake in Energy Transfer LP (NYSE:ET) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,788 shares of the pipeline company’s stock, valued at approximately $35,000.

Several other hedge funds and other institutional investors have also modified their holdings of ET. Assetmark Inc. grew its stake in shares of Energy Transfer by 2,138.5% in 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 acquired a new stake in shares of Energy Transfer in the fourth quarter worth $29,000. Financial Life Planners acquired a new stake in Energy Transfer during the fourth quarter worth $37,000. Citizens National Bank Trust Department acquired a new stake in Energy Transfer during the fourth quarter worth $39,000. Finally, Continuum Advisory LLC boosted its stake in Energy Transfer by 44.8% during the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after buying an additional 729 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Barclays lifted their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Royal Bank of Canada lifted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Stifel Nicolaus lifted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Finally, The Goldman Sachs Group lifted their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Stock Down 1.2 %

ET opened at $17.48 on Monday. The firm’s 50-day simple moving average is $19.81 and its 200-day simple moving average is $18.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a twelve month low of $14.87 and a twelve month high of $21.45. The firm has a market cap of $59.97 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 0.64 and a beta of 1.72.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. Equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.325 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 7.44%. Energy Transfer’s dividend payout ratio is 101.56%.

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.