Energy Transfer LP $ET Shares Sold by CENTRAL TRUST Co

CENTRAL TRUST Co lessened its holdings in Energy Transfer LP (NYSE:ET) by 25.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,587 shares of the pipeline company’s stock after selling 5,972 shares during the period. CENTRAL TRUST Co’s holdings in Energy Transfer were worth $319,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Nwam LLC lifted its stake in Energy Transfer by 20.4% in the 2nd quarter. Nwam LLC now owns 32,548 shares of the pipeline company’s stock valued at $588,000 after buying an additional 5,524 shares in the last quarter. Allworth Financial LP increased its position in Energy Transfer by 137.7% during the second quarter. Allworth Financial LP now owns 146,120 shares of the pipeline company’s stock worth $2,649,000 after buying an additional 84,655 shares in the last quarter. Americana Partners LLC raised its holdings in shares of Energy Transfer by 17.8% in the second quarter. Americana Partners LLC now owns 2,676,064 shares of the pipeline company’s stock worth $48,517,000 after acquiring an additional 404,297 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Energy Transfer by 17.2% in the second quarter. ProShare Advisors LLC now owns 242,036 shares of the pipeline company’s stock valued at $4,388,000 after acquiring an additional 35,594 shares in the last quarter. Finally, PFG Advisors boosted its stake in shares of Energy Transfer by 2.0% during the second quarter. PFG Advisors now owns 60,189 shares of the pipeline company’s stock valued at $1,091,000 after acquiring an additional 1,176 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ET has been the subject of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Scotiabank cut their price objective on shares of Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating for the company in a research report on Thursday. UBS Group reissued a “buy” rating and set a $22.00 price objective on shares of Energy Transfer in a research note on Wednesday, October 15th. Jefferies Financial Group set a $17.00 target price on shares of Energy Transfer and gave the stock a “hold” rating in a research report on Tuesday, October 28th. Finally, Morgan Stanley cut their price target on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.08.

Insider Buying and Selling

In other news, Director Kelcy L. Warren purchased 1,350,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was bought at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the purchase, the director directly owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. The trade was a 1.99% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.28% of the stock is owned by corporate insiders.

Energy Transfer Price Performance

Energy Transfer stock opened at $16.63 on Friday. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. The firm has a 50 day moving average price of $16.96 and a 200 day moving average price of $17.39. The company has a market cap of $57.10 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.01 and a beta of 0.76.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). The company had revenue of $19.95 billion during the quarter, compared to analyst estimates of $21.84 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 EPS. Sell-side analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th will be paid a dividend of $0.3325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 annualized dividend and a yield of 8.0%. The ex-dividend date is Friday, November 7th. Energy Transfer’s payout ratio is currently 106.40%.

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.