Adirondack Trust Co. Boosts Stock Holdings in Energy Transfer LP (NYSE:ET)

Adirondack Trust Co. boosted its stake in Energy Transfer LP (NYSE:ET) by 16.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,994 shares of the pipeline company’s stock after purchasing an additional 1,009 shares during the quarter. Adirondack Trust Co.’s holdings in Energy Transfer were worth $137,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Princeton Global Asset Management LLC grew its holdings in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after purchasing an additional 650 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock worth $28,000 after buying an additional 1,668 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer during the 4th quarter valued at about $29,000. HWG Holdings LP bought a new position in shares of Energy Transfer in the 2nd quarter valued at about $33,000. Finally, Sugarloaf Wealth Management LLC grew its position in Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

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

Energy Transfer Trading Up 0.1 %

ET opened at $20.94 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The stock’s fifty day moving average is $19.23 and its two-hundred day moving average is $17.28. The company has a market capitalization of $71.68 billion, a P/E ratio of 15.39, a PEG ratio of 0.55 and a beta of 1.70. Energy Transfer LP has a 52 week low of $13.79 and a 52 week high of $21.45.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 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 firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter last year, the firm posted $0.31 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Analysts forecast that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.16%. Energy Transfer’s dividend payout ratio is presently 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.