Glenmede Trust Co. NA Acquires 24,375 Shares of Energy Transfer LP (NYSE:ET)

Glenmede Trust Co. NA increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 805,159 shares of the pipeline company’s stock after buying an additional 24,375 shares during the quarter. Glenmede Trust Co. NA’s holdings in Energy Transfer were worth $12,923,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ET. Princeton Global Asset Management LLC lifted its holdings in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 650 shares during the last quarter. Assetmark Inc. lifted its stake in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the last quarter. LRI Investments LLC acquired a new stake in Energy Transfer in the first quarter valued at approximately $29,000. HWG Holdings LP bought a new stake in shares of Energy Transfer during the second quarter worth $33,000. Finally, Sugarloaf Wealth Management LLC increased its holdings in shares of Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after buying an additional 750 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ET shares. UBS Group boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada boosted their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Bank of America started coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $20.00.

Energy Transfer Stock Performance

Shares of ET stock opened at $19.42 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer LP has a one year low of $13.11 and a one year high of $19.71. The business’s 50 day simple moving average is $16.91 and its 200 day simple moving average is $16.27. The stock has a market capitalization of $66.49 billion, a PE ratio of 14.28, a PEG ratio of 0.61 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 EPS. As a group, research analysts forecast that Energy Transfer LP will post 1.34 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 6.64%. The ex-dividend date was Friday, November 8th. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

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.