First United Bank & Trust Acquires 26,291 Shares of Energy Transfer LP (NYSE:ET)

First United Bank & Trust increased its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 233.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,541 shares of the pipeline company's stock after acquiring an additional 26,291 shares during the period. First United Bank & Trust's holdings in Energy Transfer were worth $698,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Forvis Mazars Wealth Advisors LLC grew its holdings in shares of Energy Transfer by 164.1% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 60,566 shares of the pipeline company's stock worth $1,186,000 after purchasing an additional 37,633 shares in the last quarter. Wedbush Securities Inc. lifted its position in Energy Transfer by 44.2% during the fourth quarter. Wedbush Securities Inc. now owns 135,281 shares of the pipeline company's stock valued at $2,650,000 after purchasing an additional 41,438 shares during the last quarter. Greenland Capital Management LP purchased a new position in Energy Transfer in the 4th quarter worth approximately $2,253,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Energy Transfer in the 4th quarter worth $597,000. Finally, Bank of Montreal Can increased its holdings in shares of Energy Transfer by 12,090.8% in the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock worth $244,005,000 after buying an additional 12,353,441 shares during the last quarter. Institutional investors own 38.22% of the company's stock.

Energy Transfer Trading Down 0.6%

Energy Transfer stock traded down $0.11 during trading hours on Friday, reaching $18.35. The company had a trading volume of 11,388,072 shares, compared to its average volume of 15,598,283. The firm has a market cap of $62.96 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 0.64 and a beta of 0.78. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The company has a 50-day moving average price of $17.27 and a 200 day moving average price of $18.60.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 earnings per share. Equities analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were paid a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a dividend yield of 7.14%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's dividend payout ratio is 99.24%.

Analysts Set New Price Targets

Several research analysts recently issued reports on ET shares. Citigroup reiterated a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Morgan Stanley increased their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Mizuho raised their price objective on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. Finally, Wells Fargo & Company cut their target price on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. One investment 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 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.