Parkside Financial Bank & Trust Increases Holdings in Energy Transfer LP (NYSE:ET)

Parkside Financial Bank & Trust grew its holdings in shares of Energy Transfer LP (NYSE:ET) by 12.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,436 shares of the pipeline company’s stock after buying an additional 1,996 shares during the period. Parkside Financial Bank & Trust’s holdings in Energy Transfer were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Activest Wealth Management increased its position in Energy Transfer by 33.9% in the 4th quarter. Activest Wealth Management now owns 2,909 shares of the pipeline company’s stock valued at $40,000 after acquiring an additional 736 shares during the period. Veracity Capital LLC increased its position in Energy Transfer by 2.3% in the 4th quarter. Veracity Capital LLC now owns 32,203 shares of the pipeline company’s stock valued at $444,000 after acquiring an additional 738 shares during the period. Harbor Investment Advisory LLC increased its position in Energy Transfer by 42.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 750 shares during the period. Cornerstone Wealth Management LLC increased its position in Energy Transfer by 2.1% during the 4th quarter. Cornerstone Wealth Management LLC now owns 37,195 shares of the pipeline company’s stock worth $513,000 after purchasing an additional 776 shares during the period. Finally, Morton Capital Management LLC CA increased its position in Energy Transfer by 1.9% during the 4th quarter. Morton Capital Management LLC CA now owns 42,927 shares of the pipeline company’s stock worth $592,000 after purchasing an additional 785 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of NYSE:ET traded down $0.07 during trading on Wednesday, hitting $15.83. 3,627,506 shares of the stock were exchanged, compared to its average volume of 12,356,643. The company has a fifty day moving average price of $15.27 and a two-hundred day moving average price of $14.29. The company has a market cap of $53.34 billion, a PE ratio of 14.58 and a beta of 1.64. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a 12-month low of $12.18 and a 12-month high of $16.04.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The firm had revenue of $20.53 billion for the quarter, compared to analyst estimates of $21.46 billion. During the same quarter in the prior year, the company earned $0.34 EPS. Energy Transfer’s revenue was up .2% on a year-over-year basis. On average, analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Wednesday, February 7th were paid a $0.315 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $1.26 dividend on an annualized basis and a yield of 7.96%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s dividend payout ratio is presently 115.60%.

Analyst Upgrades and Downgrades

ET has been the topic of several recent analyst reports. Mizuho reiterated a “buy” rating and set a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Citigroup boosted their target price on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, UBS Group dropped their target price on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

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.