Toronto Dominion Bank Buys Shares of 2,472,000 Energy Transfer LP (NYSE:ET)

Toronto Dominion Bank acquired a new position in Energy Transfer LP (NYSE:ET - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,472,000 shares of the pipeline company's stock, valued at approximately $48,426,000. Toronto Dominion Bank owned 0.07% of Energy Transfer as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. Mountain Hill Investment Partners Corp. acquired a new position in Energy Transfer during the 4th quarter valued at about $25,000. Fourth Dimension Wealth LLC acquired a new position in Energy Transfer during the 4th quarter valued at about $29,000. United Community Bank acquired a new position in Energy Transfer during the 4th quarter valued at about $35,000. Financial Life Planners acquired a new position in Energy Transfer during the 4th quarter valued at about $37,000. Finally, Tortoise Investment Management LLC increased its stake in Energy Transfer by 111.1% during the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock valued at $37,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Stock Down 1.7%

Shares of ET stock traded down $0.30 during trading on Friday, hitting $17.38. 5,045,344 shares of the company were exchanged, compared to its average volume of 15,409,022. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.88 and a current ratio of 1.12. The firm has a market capitalization of $59.66 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 0.64 and a beta of 0.77. The business's 50-day simple moving average is $17.33 and its 200 day simple moving average is $18.61. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45.

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 business had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The firm's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $0.32 earnings per share. As a group, analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were issued a dividend of $0.3275 per share. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a dividend yield of 7.54%. The ex-dividend date was Friday, May 9th. Energy Transfer's dividend payout ratio (DPR) is currently 99.24%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ET shares. JPMorgan Chase & Co. lowered their price objective 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. Mizuho lifted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. Morgan Stanley lifted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. Stifel Nicolaus lifted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Finally, Citigroup reissued a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Energy Transfer currently has a consensus rating of "Moderate Buy" and an average price target of $22.64.

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.