Truist Financial Corp Has $15.54 Million Position in Energy Transfer LP (NYSE:ET)

Truist Financial Corp lowered its stake in Energy Transfer LP (NYSE:ET - Free Report) by 15.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 793,196 shares of the pipeline company's stock after selling 145,141 shares during the period. Truist Financial Corp's holdings in Energy Transfer were worth $15,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ET. FMR LLC lifted its stake in Energy Transfer by 44.0% during the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company's stock worth $535,738,000 after purchasing an additional 10,195,768 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Energy Transfer by 1,491.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,175,731 shares of the pipeline company's stock valued at $67,020,000 after buying an additional 3,913,266 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Energy Transfer by 36.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company's stock valued at $185,594,000 after buying an additional 3,106,631 shares during the last quarter. Citigroup Inc. grew its position in shares of Energy Transfer by 45.9% in the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company's stock valued at $153,787,000 after buying an additional 3,013,973 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its position in shares of Energy Transfer by 1,837.4% in the 3rd quarter. Pathway Financial Advisers LLC now owns 1,338,885 shares of the pipeline company's stock valued at $21,489,000 after buying an additional 1,269,778 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ET shares. Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Wednesday, December 18th. Royal Bank of Canada increased their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Stifel Nicolaus increased their price target 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. Barclays increased their price target on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group increased their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Energy Transfer has a consensus rating of "Moderate Buy" and an average target price of $21.18.

Energy Transfer Stock Performance

Shares of ET stock traded down $0.55 during mid-day trading on Friday, hitting $19.40. The stock had a trading volume of 15,630,769 shares, compared to its average volume of 16,812,701. Energy Transfer LP has a fifty-two week low of $14.52 and a fifty-two week high of $21.45. The firm has a market cap of $66.55 billion, a PE ratio of 15.15, a PEG ratio of 0.64 and a beta of 1.69. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The company's 50-day simple moving average is $19.86 and its 200-day simple moving average is $17.87.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 6.70%. This is an increase from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date was Friday, February 7th. Energy Transfer's payout ratio is presently 101.56%.

About Energy Transfer

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.