Energy Transfer LP (NYSE:ET) Shares Sold by Moody National Bank Trust Division

Moody National Bank Trust Division trimmed its position in Energy Transfer LP (NYSE:ET) by 9.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,306 shares of the pipeline company’s stock after selling 5,055 shares during the period. Moody National Bank Trust Division’s holdings in Energy Transfer were worth $760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in ET. Alps Advisors Inc. grew its position in Energy Transfer by 14.5% during the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after purchasing an additional 9,341,798 shares during the period. UBS Group AG grew its position in Energy Transfer by 13.3% during the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after purchasing an additional 3,368,427 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Energy Transfer by 38.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after purchasing an additional 7,097,074 shares during the period. Clearbridge Investments LLC grew its position in Energy Transfer by 18.5% during the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock worth $350,845,000 after purchasing an additional 3,976,676 shares during the period. Finally, First Reserve GP XIII Ltd acquired a new stake in Energy Transfer during the 4th quarter worth about $322,097,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Stifel Nicolaus increased their price target on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Citigroup increased their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Mizuho increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group increased their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Finally, Morgan Stanley increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Energy Transfer Trading Up 1.0 %

ET opened at $15.48 on Thursday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00. The company’s 50 day simple moving average is $15.66 and its two-hundred day simple moving average is $14.89. Energy Transfer LP has a 1-year low of $12.46 and a 1-year high of $16.40. The firm has a market capitalization of $52.17 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 0.43 and a beta of 1.63.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The business had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. During the same period last year, the business earned $0.32 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. Analysts expect that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were paid a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 8.19%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s dividend payout ratio (DPR) is 116.51%.

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.