Truist Financial Corp grew its stake in Energy Transfer LP (NYSE:ET – Get Rating) by 7.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 799,181 shares of the pipeline company’s stock after buying an additional 54,910 shares during the period. Truist Financial Corp’s holdings in Energy Transfer were worth $8,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Total Clarity Wealth Management Inc. grew its position in Energy Transfer by 43.9% in the 4th quarter. Total Clarity Wealth Management Inc. now owns 3,382 shares of the pipeline company’s stock worth $28,000 after purchasing an additional 1,032 shares during the last quarter. CWM LLC bought a new position in shares of Energy Transfer during the 4th quarter worth about $35,000. Itau Unibanco Holding S.A. bought a new position in shares of Energy Transfer during the 4th quarter worth about $40,000. EverSource Wealth Advisors LLC bought a new position in shares of Energy Transfer during the 4th quarter worth about $56,000. Finally, Wagner Wealth Management LLC lifted its holdings in shares of Energy Transfer by 81.4% during the 4th quarter. Wagner Wealth Management LLC now owns 7,292 shares of the pipeline company’s stock worth $60,000 after acquiring an additional 3,272 shares during the period. Institutional investors own 48.40% of the company’s stock.
ET has been the subject of a number of analyst reports. US Capital Advisors reaffirmed a “buy” rating on shares of Energy Transfer in a report on Wednesday, June 1st. Morgan Stanley raised their price objective on shares of Energy Transfer from $12.00 to $15.00 and gave the stock an “overweight” rating in a report on Tuesday, April 26th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $14.11.
Shares of ET stock opened at $9.68 on Wednesday. Energy Transfer LP has a 12-month low of $7.96 and a 12-month high of $12.48. The company has a market capitalization of $29.87 billion, a P/E ratio of 9.13 and a beta of 1.91. The firm has a 50-day moving average price of $10.89 and a 200 day moving average price of $10.43. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 1.43.
Energy Transfer (NYSE:ET – Get Rating) last announced its earnings results on Wednesday, May 4th. The pipeline company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.06. Energy Transfer had a net margin of 4.58% and a return on equity of 10.25%. The company had revenue of $20.49 billion during the quarter, compared to the consensus estimate of $18.79 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The company’s revenue was up 20.6% on a year-over-year basis. As a group, research analysts expect that Energy Transfer LP will post 1.25 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 19th. Shareholders of record on Monday, May 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, May 6th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.26%. Energy Transfer’s payout ratio is currently 75.47%.
About Energy Transfer (Get Rating)
Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,830 miles of interstate natural gas pipeline.
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Source: defenseworld.net
