Energy Transfer LP $ET Shares Sold by CENTRAL TRUST Co

CENTRAL TRUST Co trimmed its holdings in shares of Energy Transfer LP (NYSE:ET) by 25.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,587 shares of the pipeline company’s stock after selling 5,972 shares during the period. CENTRAL TRUST Co’s holdings in Energy Transfer were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ET. Ryan Investment Management Inc. acquired a new stake in shares of Energy Transfer in the second quarter valued at about $31,000. Vision Financial Markets LLC purchased a new position in Energy Transfer in the 1st quarter worth approximately $33,000. CNB Bank grew its position in Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 1,000 shares in the last quarter. Stone House Investment Management LLC acquired a new stake in Energy Transfer in the first quarter valued at approximately $38,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in shares of Energy Transfer during the first quarter valued at approximately $40,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the stock in a transaction on Wednesday, August 20th. The stock was purchased at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the purchase, the director directly owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.28% of the stock is currently owned by insiders.

Energy Transfer Stock Up 0.3%

NYSE:ET opened at $16.63 on Friday. The stock has a 50-day simple moving average of $16.96 and a 200 day simple moving average of $17.39. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The company has a market capitalization of $57.10 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 1.01 and a beta of 0.76. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The firm had revenue of $19.95 billion for the quarter, compared to the consensus estimate of $21.84 billion. During the same period in the prior year, the business earned $0.32 EPS. The company’s quarterly revenue was down 3.9% on a year-over-year basis. Sell-side analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th will be issued a $0.3325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date of this dividend is Friday, November 7th. Energy Transfer’s dividend payout ratio is presently 106.40%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ET. UBS Group restated a “buy” rating and issued a $22.00 target price on shares of Energy Transfer in a research note on Wednesday, October 15th. Jefferies Financial Group set a $17.00 price objective on shares of Energy Transfer and gave the company a “hold” rating in a research report on Tuesday, October 28th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Barclays reiterated an “overweight” rating and issued a $25.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.08.

About Energy Transfer

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.