WASHINGTON TRUST Co Purchases 1,400 Shares of Energy Transfer LP (NYSE:ET)

WASHINGTON TRUST Co increased its position in shares of Energy Transfer LP (NYSE:ET) by 18.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,999 shares of the pipeline company’s stock after acquiring an additional 1,400 shares during the period. WASHINGTON TRUST Co’s holdings in Energy Transfer were worth $176,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ET. Creative Planning grew its position in Energy Transfer by 16.9% during the 3rd quarter. Creative Planning now owns 796,099 shares of the pipeline company’s stock worth $12,777,000 after acquiring an additional 115,081 shares during the last quarter. Good Life Advisors LLC grew its position in Energy Transfer by 4.0% during the 3rd quarter. Good Life Advisors LLC now owns 28,723 shares of the pipeline company’s stock worth $461,000 after acquiring an additional 1,092 shares during the last quarter. Secure Asset Management LLC bought a new stake in shares of Energy Transfer in the 3rd quarter valued at about $227,000. Stratos Wealth Advisors LLC grew its position in shares of Energy Transfer by 3.0% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 39,320 shares of the pipeline company’s stock valued at $631,000 after buying an additional 1,160 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its position in shares of Energy Transfer by 2.9% in the 3rd quarter. Capital Investment Advisors LLC now owns 270,770 shares of the pipeline company’s stock valued at $4,346,000 after buying an additional 7,545 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ET. Wells Fargo & Company upped their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Stifel Nicolaus upped their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group upped their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. Royal Bank of Canada upped their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Barclays upped their target price on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.18.

Energy Transfer Stock Up 0.8 %

ET stock opened at $19.98 on Friday. The stock’s 50 day simple moving average is $19.78 and its 200 day simple moving average is $17.76. Energy Transfer LP has a fifty-two week low of $14.09 and a fifty-two week high of $21.45. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The company has a market cap of $68.42 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. On average, research analysts expect that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th will be paid a $0.325 dividend. The ex-dividend date is Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.51%. Energy Transfer’s dividend payout ratio is 94.85%.

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.