Fidelity D & D Bancorp Inc. Invests $1.21 Million in Energy Transfer LP (NYSE:ET)

Fidelity D & D Bancorp Inc. purchased a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 75,204 shares of the pipeline company's stock, valued at approximately $1,207,000. Energy Transfer comprises 0.8% of Fidelity D & D Bancorp Inc.'s investment portfolio, making the stock its 28th largest holding.

Other large investors have also added to or reduced their stakes in the company. Peapack Gladstone Financial Corp lifted its holdings in Energy Transfer by 6.8% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 15,675 shares of the pipeline company's stock worth $251,000 after buying an additional 1,000 shares during the period. Synovus Financial Corp lifted its stake in shares of Energy Transfer by 69.8% in the third quarter. Synovus Financial Corp now owns 84,530 shares of the pipeline company's stock worth $1,357,000 after acquiring an additional 34,749 shares during the period. Tidal Investments LLC boosted its holdings in Energy Transfer by 1.2% in the third quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company's stock valued at $1,633,000 after acquiring an additional 1,248 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Energy Transfer by 1,265.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 231,398 shares of the pipeline company's stock valued at $3,714,000 after acquiring an additional 214,446 shares during the last quarter. Finally, World Investment Advisors LLC raised its holdings in Energy Transfer by 4.6% during the 3rd quarter. World Investment Advisors LLC now owns 78,806 shares of the pipeline company's stock worth $1,265,000 after purchasing an additional 3,485 shares during the last quarter. Institutional investors own 38.22% of the company's stock.

Energy Transfer Price Performance

ET stock traded down $0.16 during midday trading on Friday, reaching $19.05. The company had a trading volume of 10,795,977 shares, compared to its average volume of 13,666,156. The firm has a 50-day moving average price of $17.52 and a 200-day moving average price of $16.50. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company has a market capitalization of $65.23 billion, a P/E ratio of 13.96, a P/E/G ratio of 0.63 and a beta of 1.70. Energy Transfer LP has a 1 year low of $13.54 and a 1 year high of $20.02.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company's revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $0.31 EPS. On average, research analysts anticipate that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date was Friday, November 8th. Energy Transfer's dividend payout ratio (DPR) is presently 94.85%.

Analysts Set New Price Targets

ET has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a report on Monday. Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a "buy" rating and a $20.00 price objective for the company. Finally, UBS Group increased their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer currently has a consensus rating of "Buy" and an average price target of $20.38.

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.