Energy Transfer LP $ET Shares Sold by Moloney Securities Asset Management LLC

Moloney Securities Asset Management LLC cut its holdings in Energy Transfer LP (NYSE:ET) by 12.8% during the second quarter, HoldingsChannel reports. The fund owned 26,106 shares of the pipeline company’s stock after selling 3,837 shares during the period. Moloney Securities Asset Management LLC’s holdings in Energy Transfer were worth $473,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in ET. Ryan Investment Management Inc. acquired a new position in Energy Transfer during the second quarter worth $31,000. Vision Financial Markets LLC acquired a new position in Energy Transfer during the first quarter worth $33,000. Stone House Investment Management LLC acquired a new position in Energy Transfer during the first quarter worth $38,000. N.E.W. Advisory Services LLC acquired a new position in Energy Transfer during the first quarter worth $40,000. Finally, Crowley Wealth Management Inc. acquired a new position in Energy Transfer during the second quarter worth $44,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ET shares. UBS Group restated a “buy” rating and set a $22.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. TD Cowen assumed coverage on Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating and a $22.00 price target on the stock. Morgan Stanley cut their price objective on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 26th. Scotiabank assumed coverage on Energy Transfer in a research report on Tuesday, September 2nd. They set a “sector outperform” rating and a $23.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research report on Friday. Thirteen investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.67.

Energy Transfer Stock Down 0.7%

Energy Transfer stock opened at $16.74 on Friday. The firm has a market capitalization of $57.45 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.00 and a beta of 0.78. The stock’s fifty day simple moving average is $17.18 and its 200-day simple moving average is $17.41. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45.

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

Insider Buying and Selling

In other Energy Transfer 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 purchased at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the acquisition, the director directly owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.28% of the stock is owned by company insiders.

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.