US Bancorp DE Boosts Stock Holdings in Energy Transfer LP $ET

US Bancorp DE lifted its holdings in Energy Transfer LP (NYSE:ET) by 9.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 781,439 shares of the pipeline company’s stock after purchasing an additional 68,612 shares during the period. US Bancorp DE’s holdings in Energy Transfer were worth $13,409,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ET. Alps Advisors Inc. boosted its position in Energy Transfer by 4.5% during the 3rd quarter. Alps Advisors Inc. now owns 77,651,021 shares of the pipeline company’s stock valued at $1,332,492,000 after acquiring an additional 3,366,734 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Energy Transfer by 9.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,353,476 shares of the pipeline company’s stock valued at $387,139,000 after purchasing an additional 1,825,391 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in Energy Transfer by 14.3% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 8,211,600 shares of the pipeline company’s stock valued at $140,911,000 after purchasing an additional 1,029,000 shares during the last quarter. Eagle Global Advisors LLC grew its stake in Energy Transfer by 6.0% in the third quarter. Eagle Global Advisors LLC now owns 6,466,059 shares of the pipeline company’s stock valued at $110,958,000 after purchasing an additional 363,623 shares during the last quarter. Finally, Miller Howard Investments Inc. NY raised its holdings in Energy Transfer by 2.6% in the third quarter. Miller Howard Investments Inc. NY now owns 5,351,145 shares of the pipeline company’s stock worth $91,826,000 after purchasing an additional 136,507 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ET has been the topic of a number of recent analyst reports. TD Cowen raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Energy Transfer in a research report on Wednesday, December 24th. Royal Bank Of Canada raised shares of Energy Transfer to a “moderate buy” rating in a report on Monday, December 15th. Barclays reaffirmed an “overweight” rating and set a $22.00 price target (down from $25.00) on shares of Energy Transfer in a research report on Monday, January 12th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Energy Transfer in a research report on Wednesday, February 18th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.20.

Energy Transfer Stock Up 0.7%

Shares of ET stock opened at $18.82 on Friday. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $19.51. The firm has a market capitalization of $64.73 billion, a PE ratio of 15.55, a P/E/G ratio of 0.97 and a beta of 0.66. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. The stock’s 50-day simple moving average is $17.67 and its 200-day simple moving average is $17.21.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, February 17th. The pipeline company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.09). Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The firm had revenue of $25.32 billion during the quarter, compared to analysts’ expectations of $23.56 billion. During the same quarter in the prior year, the company earned $0.29 EPS. Energy Transfer’s quarterly revenue was up 29.6% 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 firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were issued a $0.335 dividend. The ex-dividend date of this dividend was Friday, February 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a yield of 7.1%. Energy Transfer’s dividend payout ratio is currently 110.74%.

Energy Transfer 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.