Wilmington Savings Fund Society FSB Sells 162,020 Shares of Energy Transfer LP $ET

Key Points

• Wilmington Savings Fund Society FSB reduced its stake in Energy Transfer by 50.8%, selling 162,020 shares in Q3 and leaving 156,722 shares valued at $2.689 million.
• Energy Transfer reported Q earnings of $0.25 per share (vs. $0.34 expected) while revenue climbed 29.6% YoY to $25.32 billion, and the company raised its quarterly dividend to $0.335 (annualized $1.34) for a ~7.2% yield with a payout ratio of 110.74%.
• Analysts hold a consensus Moderate Buy on ET with an average price target of $21.60 (10 Buys, 2 Holds).

Wilmington Savings Fund Society FSB reduced its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 50.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,722 shares of the pipeline company's stock after selling 162,020 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Energy Transfer were worth $2,689,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ET. Financial Life Planners acquired a new stake in Energy Transfer during the 3rd quarter worth approximately $34,000. HHM Wealth Advisors LLC boosted its holdings in shares of Energy Transfer by 54.4% in the second quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company's stock valued at $41,000 after buying an additional 800 shares during the period. Core Alternative Capital acquired a new position in shares of Energy Transfer in the third quarter valued at approximately $46,000. FSC Wealth Advisors LLC bought a new stake in shares of Energy Transfer during the second quarter worth $50,000. Finally, Golden State Wealth Management LLC increased its position in shares of Energy Transfer by 38.9% during the third quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company's stock worth $50,000 after acquiring an additional 817 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Wall Street Analysts Forecast Growth

ET has been the topic of several recent research reports. Barclays reissued an "overweight" rating and issued a $22.00 price target (down from $25.00) on shares of Energy Transfer in a research note on Monday, January 12th. Morgan Stanley increased their target price on Energy Transfer from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 10th. Weiss Ratings reissued a "buy (b-)" rating on shares of Energy Transfer in a report on Wednesday, December 24th. Scotiabank reissued an "outperform" rating on shares of Energy Transfer in a report on Friday, January 16th. Finally, UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a report on Wednesday, January 7th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $21.60.

Energy Transfer Stock Down 0.4%

Shares of NYSE:ET opened at $18.72 on Thursday. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $19.30. The company has a market capitalization of $64.39 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.04 and a beta of 0.63. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.90 and a current ratio of 1.22. The company has a fifty day moving average of $18.28 and a 200-day moving average of $17.32.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.09). Energy Transfer had a return on equity of 10.17% and a net margin of 5.11%.The firm had revenue of $25.32 billion for the quarter, compared to the consensus estimate of $23.56 billion. During the same quarter in the prior year, the firm earned $0.29 EPS. The company's revenue was up 29.6% on a year-over-year basis. On average, equities analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were given a $0.335 dividend. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, February 6th. This represents a $1.34 annualized dividend and a yield of 7.2%. Energy Transfer's dividend payout ratio is currently 110.74%.

Energy Transfer Profile

Energy Transfer NYSE: ET is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company's operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.

Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP (NYSE:ET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.