Wesbanco Bank Inc. Has $586,000 Stock Position in Energy Transfer LP (NYSE:ET)

Wesbanco Bank Inc. lifted its stake in shares of Energy Transfer LP (NYSE:ET) by 48.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,521 shares of the pipeline company’s stock after buying an additional 12,000 shares during the period. Wesbanco Bank Inc.’s holdings in Energy Transfer were worth $586,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Tortoise Capital Advisors L.L.C. grew its holdings in Energy Transfer by 12.7% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after acquiring an additional 4,141,715 shares during the last quarter. Natixis grew its stake in shares of Energy Transfer by 20.0% in the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after purchasing an additional 2,999,300 shares during the last quarter. Payden & Rygel Investment Group acquired a new stake in Energy Transfer in the first quarter valued at $20,164,000. Merewether Investment Management LP raised its position in Energy Transfer by 22.3% during the 2nd quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock worth $106,919,000 after purchasing an additional 1,200,501 shares during the last quarter. Finally, Progeny 3 Inc. lifted its holdings in Energy Transfer by 104.6% during the 1st quarter. Progeny 3 Inc. now owns 2,205,785 shares of the pipeline company’s stock worth $34,697,000 after buying an additional 1,127,500 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $20.00.

Insider Activity at Energy Transfer

In other news, CEO Thomas E. Long acquired 20,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Energy Transfer news, Director Kelcy L. Warren bought 3,000,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas E. Long purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by insiders.

Energy Transfer Stock Performance

ET opened at $16.40 on Thursday. Energy Transfer LP has a 1-year low of $12.90 and a 1-year high of $16.64. The company has a market cap of $55.27 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 0.50 and a beta of 1.66. The company’s fifty day moving average price is $16.09 and its two-hundred day moving average price is $15.94. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The business had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 EPS. On average, analysts expect that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, August 9th. This represents a $1.28 annualized dividend and a yield of 7.80%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 117.43%.

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.