Citizens National Bank Trust Department Buys 1,000 Shares of Energy Transfer LP $ET

Citizens National Bank Trust Department boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 25.0% during the second quarter, HoldingsChannel reports. The fund owned 5,000 shares of the pipeline company’s stock after purchasing an additional 1,000 shares during the quarter. Citizens National Bank Trust Department’s holdings in Energy Transfer were worth $91,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Alps Advisors Inc. grew its holdings in Energy Transfer by 12.9% during the 1st quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock worth $1,400,831,000 after acquiring an additional 8,613,645 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its holdings in Energy Transfer by 2.6% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company’s stock worth $710,240,000 after acquiring an additional 951,656 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in Energy Transfer by 0.8% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company’s stock worth $449,329,000 after acquiring an additional 182,705 shares during the last quarter. Energy Income Partners LLC grew its holdings in Energy Transfer by 12.0% during the 1st quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock worth $429,802,000 after acquiring an additional 2,471,401 shares during the last quarter. Finally, Westwood Holdings Group Inc. grew its holdings in Energy Transfer by 2.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,787,080 shares of the pipeline company’s stock worth $312,072,000 after acquiring an additional 455,860 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Up 0.2%

Energy Transfer stock opened at $16.70 on Thursday. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The firm’s fifty day moving average is $17.39 and its 200 day moving average is $17.50. The company has a market capitalization of $57.33 billion, a PE ratio of 12.95, a PEG ratio of 0.98 and a beta of 0.78.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company had revenue of $19.24 billion for the quarter, compared to the consensus estimate of $24.07 billion. During the same quarter in the previous year, the company earned $0.35 EPS. Energy Transfer’s quarterly revenue was down 7.2% compared to the same quarter last year. As a group, sell-side analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date was Friday, August 8th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s dividend payout ratio is presently 102.33%.

Insider Activity

In related news, Director Kelcy L. Warren bought 1,350,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the transaction, the director directly owned 69,178,477 shares of the company’s stock, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.28% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on ET. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday. TD Cowen assumed coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating and a $22.00 price objective on the stock. Cowen assumed coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Finally, Scotiabank assumed coverage on shares of Energy Transfer in a research note on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price objective on the stock. Fourteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.50.

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.