Moloney Securities Asset Management LLC Trims Stock Position in Energy Transfer LP $ET

Moloney Securities Asset Management LLC lowered its stake in shares of Energy Transfer LP (NYSE:ET) by 12.8% in the second quarter, according to its most recent 13F filing with the SEC. 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 institutional investors have also modified their holdings of ET. Vanguard Personalized Indexing Management LLC increased its stake in shares of Energy Transfer by 1.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 39,845 shares of the pipeline company’s stock valued at $723,000 after purchasing an additional 565 shares in the last quarter. Indiana Trust & Investment Management Co increased its stake in shares of Energy Transfer by 5.1% in the 1st quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company’s stock valued at $219,000 after purchasing an additional 576 shares in the last quarter. Beam Wealth Advisors Inc. increased its stake in shares of Energy Transfer by 1.5% in the 1st quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company’s stock valued at $742,000 after purchasing an additional 585 shares in the last quarter. Bogart Wealth LLC increased its stake in shares of Energy Transfer by 1.9% in the 2nd quarter. Bogart Wealth LLC now owns 32,788 shares of the pipeline company’s stock valued at $594,000 after purchasing an additional 604 shares in the last quarter. Finally, MCF Advisors LLC increased its stake in shares of Energy Transfer by 7.2% in the 2nd quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company’s stock valued at $167,000 after purchasing an additional 616 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Insider Buying and Selling

In other Energy Transfer news, Director Kelcy L. Warren acquired 1,350,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the acquisition, the director 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 position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ET. Barclays restated an “overweight” rating and issued a $25.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research note on Friday. Wells Fargo & Company reiterated an “overweight” rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Morgan Stanley cut their price objective on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Finally, Cowen started coverage on Energy Transfer in a research note on Monday, July 7th. They set a “buy” rating for the company. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.67.

Energy Transfer Trading Down 0.7%

Shares of Energy Transfer stock opened at $16.74 on Friday. The stock has a market cap 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 50 day simple moving average is $17.18 and its 200-day simple moving average is $17.41. 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 current ratio of 1.15 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $19.24 billion for the quarter, compared to analysts’ expectations of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.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 firm posted $0.35 EPS. Analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

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.