Tompkins Financial Corp Grows Stock Holdings in Energy Transfer LP (NYSE:ET)

Tompkins Financial Corp raised its stake in Energy Transfer LP (NYSE:ET) by 106.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,555 shares of the pipeline company’s stock after buying an additional 7,000 shares during the period. Tompkins Financial Corp’s holdings in Energy Transfer were worth $213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of ET. Northwest Financial Advisors purchased a new stake in shares of Energy Transfer in the fourth quarter valued at about $25,000. Rise Advisors LLC grew its holdings in Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after buying an additional 927 shares during the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new position in Energy Transfer during the fourth quarter worth $33,000. Harbor Investment Advisory LLC raised its holdings in shares of Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 750 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Energy Transfer in the fourth quarter valued at $34,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Up 1.0 %

Shares of NYSE ET opened at $15.48 on Thursday. The stock has a market capitalization of $52.17 billion, a PE ratio of 14.20, a P/E/G ratio of 0.43 and a beta of 1.63. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37. The firm has a fifty day moving average of $15.66 and a 200-day moving average of $14.89. Energy Transfer LP has a 52-week low of $12.46 and a 52-week high of $16.40.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The firm had revenue of $21.63 billion for the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. Energy Transfer’s revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm posted $0.32 EPS. On average, analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were issued a $0.317 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 10th. This represents a $1.27 annualized dividend and a yield of 8.19%. Energy Transfer’s dividend payout ratio (DPR) is presently 116.51%.

Analyst Upgrades and Downgrades

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

About Energy Transfer

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.