Fidelity D & D Bancorp Inc. Has $1.43 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

Fidelity D & D Bancorp Inc. decreased its holdings in Energy Transfer LP (NYSE:ET) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 73,225 shares of the pipeline company’s stock after selling 1,979 shares during the period. Energy Transfer makes up about 1.0% of Fidelity D & D Bancorp Inc.’s portfolio, making the stock its 25th biggest position. Fidelity D & D Bancorp Inc.’s holdings in Energy Transfer were worth $1,434,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vermillion Wealth Management Inc. bought a new stake in shares of Energy Transfer during the 4th quarter valued at approximately $46,000. AlphaCore Capital LLC grew its holdings in shares of Energy Transfer by 20.5% during the 4th quarter. AlphaCore Capital LLC now owns 12,264 shares of the pipeline company’s stock valued at $240,000 after purchasing an additional 2,090 shares during the last quarter. Forum Financial Management LP grew its holdings in shares of Energy Transfer by 2.3% during the 4th quarter. Forum Financial Management LP now owns 126,394 shares of the pipeline company’s stock valued at $2,476,000 after purchasing an additional 2,797 shares during the last quarter. Sunbeam Capital Management LLC bought a new stake in shares of Energy Transfer during the 4th quarter valued at approximately $330,000. Finally, Michels Family Financial LLC bought a new stake in shares of Energy Transfer during the 4th quarter valued at approximately $502,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. JPMorgan Chase & Co. decreased their price target on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. Morgan Stanley boosted their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Citigroup reiterated a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.64.

Energy Transfer Trading Down 0.2%

NYSE:ET opened at $17.84 on Friday. The firm’s fifty day moving average is $17.41 and its 200-day moving average is $18.60. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The firm has a market cap of $61.22 billion, a P/E ratio of 13.94, a P/E/G ratio of 0.64 and a beta of 0.77.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $22.28 billion. During the same quarter last year, the firm posted $0.32 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. Equities analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were paid a $0.3275 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.31 annualized dividend and a dividend yield of 7.34%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is currently 99.24%.

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.