Parkside Financial Bank & Trust Has $736,000 Holdings in Energy Transfer LP (NYSE:ET)

Parkside Financial Bank & Trust lifted its stake in Energy Transfer LP (NYSE:ET) by 12.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 37,550 shares of the pipeline company’s stock after buying an additional 4,217 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Energy Transfer were worth $736,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. FMR LLC raised its holdings in shares of Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock worth $535,738,000 after buying an additional 10,195,768 shares in the last quarter. Chickasaw Capital Management LLC raised its holdings in shares of Energy Transfer by 2.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock worth $308,319,000 after buying an additional 388,073 shares in the last quarter. Brookfield Corp ON raised its holdings in shares of Energy Transfer by 2.8% in the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after buying an additional 352,625 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Energy Transfer by 36.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock worth $185,594,000 after buying an additional 3,106,631 shares in the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock worth $153,787,000 after buying an additional 3,013,973 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Up 2.0 %

Shares of ET opened at $19.32 on Friday. The firm has a market capitalization of $66.27 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 0.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The business’s fifty day moving average price is $19.92 and its two-hundred day moving average price is $18.01. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. On average, analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were given a $0.325 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a dividend yield of 6.73%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio (DPR) is currently 101.56%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ET. Wells Fargo & Company raised their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Citigroup raised their price target on Energy Transfer from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday. Stifel Nicolaus raised their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. The Goldman Sachs Group raised their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, Barclays raised their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.55.

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.