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

First United Bank & Trust boosted its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 233.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,541 shares of the pipeline company's stock after buying an additional 26,291 shares during the quarter. First United Bank & Trust's holdings in Energy Transfer were worth $698,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC boosted its position in Energy Transfer by 2.7% during the first quarter. GPS Wealth Strategies Group LLC now owns 32,715 shares of the pipeline company's stock worth $608,000 after purchasing an additional 875 shares during the period. Simon Quick Advisors LLC lifted its holdings in shares of Energy Transfer by 35.2% in the first quarter. Simon Quick Advisors LLC now owns 13,759 shares of the pipeline company's stock worth $256,000 after buying an additional 3,579 shares in the last quarter. Focus Financial Network Inc. lifted its holdings in shares of Energy Transfer by 37.4% in the first quarter. Focus Financial Network Inc. now owns 36,321 shares of the pipeline company's stock worth $675,000 after buying an additional 9,883 shares in the last quarter. Bard Financial Services Inc. lifted its holdings in shares of Energy Transfer by 22.4% in the first quarter. Bard Financial Services Inc. now owns 68,250 shares of the pipeline company's stock worth $1,269,000 after buying an additional 12,500 shares in the last quarter. Finally, CX Institutional purchased a new stake in shares of Energy Transfer in the first quarter worth about $50,000. Institutional investors own 38.22% of the company's stock.

Energy Transfer Price Performance

Shares of ET stock traded down $0.16 during trading hours on Friday, hitting $18.30. 14,306,574 shares of the company's stock were exchanged, compared to its average volume of 15,610,522. The company has a market capitalization of $62.78 billion, a PE ratio of 14.29, a PEG 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 business's 50 day simple moving average is $17.33 and its 200-day simple moving average is $18.59. 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 - Get Free Report) last posted its quarterly 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 firm 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 business's revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. On average, equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were issued a $0.3275 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.31 annualized dividend and a dividend yield of 7.16%. Energy Transfer's dividend payout ratio (DPR) is currently 99.24%.

Analyst Upgrades and Downgrades

ET has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Mizuho raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, May 20th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.