Fifth Third Wealth Advisors LLC Acquires Shares of 20,689 Energy Transfer LP (NYSE:ET)

Fifth Third Wealth Advisors LLC purchased a new stake in Energy Transfer LP (NYSE:ET - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 20,689 shares of the pipeline company's stock, valued at approximately $385,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ET. Mountain Hill Investment Partners Corp. acquired a new stake in Energy Transfer in the 4th quarter valued at $25,000. Capital A Wealth Management LLC acquired a new stake in Energy Transfer in the 4th quarter valued at $26,000. Fourth Dimension Wealth LLC bought a new position in shares of Energy Transfer in the 4th quarter valued at about $29,000. United Community Bank bought a new position in shares of Energy Transfer in the 4th quarter valued at about $35,000. Finally, Financial Life Planners bought a new position in shares of Energy Transfer in the 4th quarter valued at about $37,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

ET traded up $0.12 on Thursday, reaching $17.65. The company had a trading volume of 12,216,697 shares, compared to its average volume of 15,508,176. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The stock has a market cap of $60.56 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.64 and a beta of 0.77. The company's fifty day moving average is $17.23 and its 200 day moving average is $18.62. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The business had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same quarter in the prior year, the business earned $0.32 EPS. Energy Transfer's quarterly revenue was down 2.8% on a year-over-year basis. As a group, analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were issued a $0.3275 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a yield of 7.42%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is currently 99.24%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Citigroup reissued a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. Mizuho lifted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Wells Fargo & Company decreased their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Royal Bank of Canada reissued an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. Finally, UBS Group reissued a "buy" rating on shares of Energy Transfer in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.64.

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.