Toronto Dominion Bank Takes $48.43 Million Position in Energy Transfer LP (NYSE:ET)

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

A number of other large investors have also recently bought and sold shares of ET. Warm Springs Advisors Inc. acquired a new stake in Energy Transfer in the 4th quarter worth about $1,469,000. WCG Wealth Advisors LLC increased its stake in shares of Energy Transfer by 6.4% during the 4th quarter. WCG Wealth Advisors LLC now owns 14,488 shares of the pipeline company's stock valued at $284,000 after acquiring an additional 871 shares during the last quarter. Hudson Value Partners LLC boosted its position in shares of Energy Transfer by 1.6% in the fourth quarter. Hudson Value Partners LLC now owns 64,775 shares of the pipeline company's stock worth $1,269,000 after acquiring an additional 1,000 shares during the last quarter. Helium Advisors LLC purchased a new stake in Energy Transfer in the fourth quarter valued at approximately $500,000. Finally, Alpine Global Management LLC purchased a new stake in Energy Transfer in the fourth quarter valued at approximately $353,000. Institutional investors and hedge funds own 38.22% of the company's stock.

Analyst Ratings Changes

ET has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a report on Tuesday, March 25th. Stifel Nicolaus lifted their target price on Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Morgan Stanley boosted their price target on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. Citigroup restated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. cut their price objective on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. 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, the stock has an average rating of "Moderate Buy" and a consensus target price of $22.64.

Energy Transfer Stock Down 1.1%

NYSE:ET traded down $0.20 during mid-day trading on Wednesday, hitting $17.75. The company had a trading volume of 8,474,253 shares, compared to its average volume of 15,447,665. The business has a fifty day simple moving average of $17.37 and a 200-day simple moving average of $18.61. 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 LP has a 1 year low of $14.60 and a 1 year high of $21.45. The firm has a market capitalization of $60.91 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.64 and a beta of 0.77.

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

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were given a $0.3275 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a yield of 7.38%. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's dividend payout ratio is presently 99.24%.

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.