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

Citizens National Bank Trust Department boosted its holdings in Energy Transfer LP (NYSE:ET) by 25.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,000 shares of the pipeline company’s stock after purchasing an additional 1,000 shares during the period. Citizens National Bank Trust Department’s holdings in Energy Transfer were worth $91,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Indiana Trust & Investment Management Co lifted its stake in shares of Energy Transfer by 5.1% during the 1st quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company’s stock worth $219,000 after buying an additional 576 shares during the last quarter. Beam Wealth Advisors Inc. lifted its stake in shares of Energy Transfer by 1.5% during the 1st quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company’s stock worth $742,000 after buying an additional 585 shares during the last quarter. Morton Capital Management LLC CA lifted its stake in shares of Energy Transfer by 1.3% during the 1st quarter. Morton Capital Management LLC CA now owns 46,382 shares of the pipeline company’s stock worth $862,000 after buying an additional 593 shares during the last quarter. MCF Advisors LLC lifted its stake in shares of Energy Transfer by 7.2% during the 2nd quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company’s stock worth $167,000 after buying an additional 616 shares during the last quarter. Finally, Chicago Capital LLC raised its stake in Energy Transfer by 2.6% in the 2nd quarter. Chicago Capital LLC now owns 24,056 shares of the pipeline company’s stock worth $436,000 after purchasing an additional 618 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on ET shares. TD Cowen started 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 for the company. Wells Fargo & Company reiterated an “overweight” rating and issued a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday. Cowen started coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a “buy” rating for the company. Finally, Scotiabank started 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 for the company. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $16.70 on Thursday. The firm has a 50 day moving average of $17.39 and a 200-day moving average of $17.50. The stock 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. 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 12 month low of $14.60 and a 12 month high of $21.45.

Energy Transfer (NYSE:ET) last issued 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 company had revenue of $19.24 billion during the quarter, compared to analysts’ expectations of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The business’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 EPS. On average, equities research analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

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

Insider Activity

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the acquisition, the director owned 69,178,477 shares of the company’s stock, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.28% of the company’s stock.

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.