Toronto Dominion Bank Takes Position in Energy Transfer LP (NYSE:ET)

Toronto Dominion Bank purchased a new position in shares of Energy Transfer LP (NYSE:ET) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,472,000 shares of the pipeline company’s stock, valued at approximately $48,426,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ET. Mountain Hill Investment Partners Corp. acquired a new position in Energy Transfer during the 4th quarter worth approximately $25,000. United Community Bank acquired a new position in Energy Transfer during the fourth quarter worth about $35,000. Financial Life Planners purchased a new stake in shares of Energy Transfer in the fourth quarter valued at about $37,000. Tortoise Investment Management LLC grew its position in shares of Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Citizens National Bank Trust Department purchased a new position in shares of Energy Transfer during the 4th quarter worth approximately $39,000. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Energy Transfer Trading Down 0.1%

ET opened at $17.96 on Friday. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The stock has a market capitalization of $61.63 billion, a PE ratio of 14.03, a P/E/G ratio of 0.64 and a beta of 0.77. The firm’s fifty day moving average price is $17.48 and its 200 day moving average price is $18.56.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The business had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same period in the prior year, the company posted $0.32 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. As a group, research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 9th will be issued a $0.3275 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, May 9th. This represents a $1.31 annualized dividend and a dividend yield of 7.29%. Energy Transfer’s dividend payout ratio (DPR) is 99.24%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ET. Stifel Nicolaus increased their target price on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley lifted their price objective on Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Wells Fargo & Company reduced their target price on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. Finally, UBS Group restated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.09.

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.