Whittier Trust Co. of Nevada Inc. Makes New Investment in Energy Transfer LP (NYSE:ET)

Whittier Trust Co. of Nevada Inc. purchased a new position in Energy Transfer LP (NYSE:ET) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 353,240 shares of the pipeline company’s stock, valued at approximately $6,920,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ET. Thrivent Financial for Lutherans increased its position in Energy Transfer by 57.0% in the third quarter. Thrivent Financial for Lutherans now owns 21,671 shares of the pipeline company’s stock worth $348,000 after buying an additional 7,870 shares in the last quarter. Avior Wealth Management LLC increased its position in Energy Transfer by 45.5% in the third quarter. Avior Wealth Management LLC now owns 60,868 shares of the pipeline company’s stock worth $977,000 after buying an additional 19,045 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in Energy Transfer in the third quarter worth about $2,656,000. Strategy Asset Managers LLC purchased a new stake in Energy Transfer in the third quarter worth about $299,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in Energy Transfer in the third quarter worth about $396,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

NYSE:ET opened at $18.83 on Friday. The firm has a market capitalization of $64.62 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 0.64 and a beta of 1.72. Energy Transfer LP has a 1 year low of $14.90 and a 1 year high of $21.45. The business has a 50 day simple moving average of $19.59 and a 200-day simple moving average of $18.24. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data 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%. Equities analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 6.90%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer’s dividend payout ratio is presently 101.56%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Royal Bank of Canada upped their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Stifel Nicolaus upped their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Citigroup upped their price objective on Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. Finally, Wells Fargo & Company upped 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. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.55.

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.