Wilmington Savings Fund Society FSB Cuts Position in Energy Transfer LP $ET

Wilmington Savings Fund Society FSB reduced its stake in shares of Energy Transfer LP (NYSE:ET) by 19.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 257,502 shares of the pipeline company’s stock after selling 61,240 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Energy Transfer were worth $4,419,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after buying an additional 11,844 shares during the period. AQR Capital Management LLC increased its stake in Energy Transfer by 62.8% in the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock valued at $391,000 after purchasing an additional 8,118 shares in the last quarter. Parallel Advisors LLC raised its holdings in Energy Transfer by 22.9% during the second quarter. Parallel Advisors LLC now owns 41,999 shares of the pipeline company’s stock worth $761,000 after purchasing an additional 7,817 shares during the last quarter. Pallas Capital Advisors LLC boosted its position in Energy Transfer by 33.9% during the second quarter. Pallas Capital Advisors LLC now owns 24,727 shares of the pipeline company’s stock worth $448,000 after purchasing an additional 6,264 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC grew its holdings in Energy Transfer by 14.3% in the second quarter. Dynamic Advisor Solutions LLC now owns 144,850 shares of the pipeline company’s stock valued at $2,626,000 after purchasing an additional 18,107 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ET shares. JPMorgan Chase & Co. lowered their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research report on Friday. Jefferies Financial Group set a $17.00 price objective on shares of Energy Transfer and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Morgan Stanley reduced their target price on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 2nd. Finally, Royal Bank Of Canada raised Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Insider Buying and Selling at Energy Transfer

In related news, Director Kelcy L. Warren bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were acquired at an average cost of $16.95 per share, with a total value of $16,950,000.00. Following the completion of the transaction, the director owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. The trade was a 0.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.28% of the stock is currently owned by insiders.

Energy Transfer Trading Down 0.7%

Shares of ET opened at $17.33 on Friday. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The company has a market capitalization of $59.50 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 0.91 and a beta of 0.66. The stock has a fifty day moving average of $16.64 and a two-hundred day moving average of $17.07. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.14 and a current ratio of 1.41.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The business had revenue of $19.95 billion during the quarter, compared to analysts’ expectations of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. Energy Transfer’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. As a group, analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Friday, November 7th were paid a dividend of $0.3325 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 7.7%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is currently 106.40%.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.