BankPlus Trust Department Acquires Shares of 5,671 Energy Transfer LP (NYSE:ET)

BankPlus Trust Department acquired a new stake in shares of Energy Transfer LP (NYSE:ET) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,671 shares of the pipeline company’s stock, valued at approximately $111,000.

Several other hedge funds have also recently modified their holdings of the stock. FMR LLC increased its holdings in Energy Transfer by 44.0% in the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after acquiring an additional 10,195,768 shares during the last quarter. Chickasaw Capital Management LLC grew its position in shares of Energy Transfer by 2.5% during the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after purchasing an additional 388,073 shares in the last quarter. Brookfield Corp ON increased its holdings in shares of Energy Transfer by 2.8% in the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock worth $210,896,000 after purchasing an additional 352,625 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Energy Transfer by 36.7% in the third 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. lifted its position in shares of Energy Transfer by 45.9% in the third 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. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

ET has been the topic of a number of research reports. Wells Fargo & Company lifted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada boosted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group lifted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, Stifel Nicolaus upped their target price on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

Energy Transfer Price Performance

Energy Transfer stock opened at $18.96 on Tuesday. The firm has a market capitalization of $65.04 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. Energy Transfer LP has a 12-month low of $14.52 and a 12-month high of $21.45. The firm has a 50-day moving average price of $19.88 and a 200-day moving average price of $17.95. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 6.86%. The ex-dividend date of this dividend was Friday, February 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is 101.56%.

About Energy Transfer

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.