Adirondack Trust Co. Purchases New Position in Energy Transfer LP (NYSE:ET)

Adirondack Trust Co. acquired a new stake in Energy Transfer LP (NYSE:ET) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,900 shares of the pipeline company’s stock, valued at approximately $42,000.

Several other institutional investors also recently bought and sold shares of the business. Mutual Advisors LLC lifted its position in Energy Transfer by 112.9% during the fourth quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company’s stock worth $2,028,000 after buying an additional 77,938 shares in the last quarter. US Bancorp DE lifted its position in Energy Transfer by 95.8% during the fourth quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock worth $2,013,000 after buying an additional 71,386 shares in the last quarter. Savant Capital LLC lifted its position in Energy Transfer by 19.7% during the fourth quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company’s stock worth $363,000 after buying an additional 4,340 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Energy Transfer by 230.9% during the third quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock worth $10,335,000 after buying an additional 513,989 shares in the last quarter. Finally, Arkadios Wealth Advisors lifted its position in Energy Transfer by 3.3% during the fourth quarter. Arkadios Wealth Advisors now owns 28,250 shares of the pipeline company’s stock worth $390,000 after buying an additional 903 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Stifel Nicolaus lifted their target price on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, May 9th. Mizuho boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group boosted their price objective on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Morgan Stanley boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. Finally, Citigroup boosted their price objective on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Energy Transfer Trading Up 1.1 %

ET opened at $15.50 on Wednesday. Energy Transfer LP has a 12 month low of $12.46 and a 12 month high of $16.40. The stock has a market capitalization of $52.22 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.42 and a beta of 1.63. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. The business has a fifty day moving average price of $15.67 and a 200 day moving average price of $14.89.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The company had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. During the same period in the previous year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. Sell-side analysts expect that Energy Transfer LP will post 1.43 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were given a dividend of $0.317 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a dividend yield of 8.18%. The ex-dividend date was Friday, May 10th. Energy Transfer’s dividend payout ratio is currently 116.51%.

Energy Transfer Company 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.