Adirondack Trust Co. Grows Stock Holdings in Energy Transfer LP (NYSE:ET)

Adirondack Trust Co. grew its position in Energy Transfer LP (NYSE:ET) by 16.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,994 shares of the pipeline company’s stock after acquiring an additional 1,009 shares during the quarter. Adirondack Trust Co.’s holdings in Energy Transfer were worth $137,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ET. Hsbc Holdings PLC purchased a new position in Energy Transfer in the second quarter worth $290,000. Benjamin F. Edwards & Company Inc. grew its stake in Energy Transfer by 31.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,140 shares of the pipeline company’s stock worth $132,000 after buying an additional 1,963 shares during the last quarter. AE Wealth Management LLC increased its position in Energy Transfer by 22.6% during the 2nd quarter. AE Wealth Management LLC now owns 89,232 shares of the pipeline company’s stock valued at $1,447,000 after buying an additional 16,445 shares in the last quarter. Sei Investments Co. raised its stake in Energy Transfer by 77.4% in the second quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock valued at $747,000 after buying an additional 20,093 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Energy Transfer by 13.2% in the second quarter. EverSource Wealth Advisors LLC now owns 16,027 shares of the pipeline company’s stock worth $261,000 after acquiring an additional 1,874 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE ET opened at $20.94 on Thursday. The firm has a market capitalization of $71.68 billion, a P/E ratio of 15.39, a PEG ratio of 0.55 and a beta of 1.70. The stock has a 50-day simple moving average of $19.23 and a two-hundred day simple moving average of $17.28. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. Energy Transfer LP has a fifty-two week low of $13.79 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. Energy Transfer’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. On average, equities analysts forecast that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.16%. Energy Transfer’s dividend payout ratio is presently 94.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays upped their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company upped their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada lifted their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. The Goldman Sachs Group upped their target price on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Finally, Bank of America assumed coverage on Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. One investment 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 stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.82.

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.