Wesbanco Bank Inc. Grows Stake in Energy Transfer LP (NYSE:ET)

Wesbanco Bank Inc. increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,900 shares of the pipeline company’s stock after purchasing an additional 4,200 shares during the quarter. Wesbanco Bank Inc.’s holdings in Energy Transfer were worth $2,043,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. United Advisor Group LLC grew its position in shares of Energy Transfer by 3.0% during the fourth quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company’s stock worth $363,000 after purchasing an additional 534 shares in the last quarter. Wealthspire Advisors LLC boosted its stake in Energy Transfer by 0.4% during the fourth quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock valued at $2,551,000 after buying an additional 535 shares during the last quarter. Cannell & Spears LLC boosted its stake in Energy Transfer by 0.4% during the fourth quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock valued at $2,657,000 after buying an additional 546 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in Energy Transfer by 18.0% during the fourth quarter. Capital Advisors Ltd. LLC now owns 3,649 shares of the pipeline company’s stock valued at $71,000 after buying an additional 556 shares during the last quarter. Finally, OneDigital Investment Advisors LLC boosted its stake in Energy Transfer by 3.0% during the fourth quarter. OneDigital Investment Advisors LLC now owns 20,389 shares of the pipeline company’s stock valued at $399,000 after buying an additional 596 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

NYSE:ET opened at $17.71 on Tuesday. The firm has a market capitalization of $60.78 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 0.64 and a beta of 0.78. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The business has a 50 day simple moving average of $17.17 and a 200-day simple moving average of $18.61. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $22.28 billion. During the same period last year, the company earned $0.32 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were paid a dividend of $0.3275 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.40%. The ex-dividend date was Friday, May 9th. Energy Transfer’s dividend payout ratio (DPR) is currently 99.24%.

Analysts Set New Price Targets

ET has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price target on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Morgan Stanley increased their price target on Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Wells Fargo & Company dropped their price target on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. Finally, Stifel Nicolaus increased their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $22.64.

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.