Moody National Bank Trust Division Sells 1,268 Shares of Energy Transfer LP (NYSE:ET)

Moody National Bank Trust Division decreased its holdings in Energy Transfer LP (NYSE:ET) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,815 shares of the pipeline company’s stock after selling 1,268 shares during the quarter. Moody National Bank Trust Division’s holdings in Energy Transfer were worth $937,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in Energy Transfer by 32.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 94,442 shares of the pipeline company’s stock worth $1,532,000 after acquiring an additional 23,079 shares during the last quarter. HBK Sorce Advisory LLC grew its stake in shares of Energy Transfer by 32.7% during the second quarter. HBK Sorce Advisory LLC now owns 20,877 shares of the pipeline company’s stock valued at $339,000 after purchasing an additional 5,148 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Energy Transfer by 0.6% in the second quarter. Oppenheimer Asset Management Inc. now owns 174,002 shares of the pipeline company’s stock valued at $2,822,000 after purchasing an additional 1,020 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in Energy Transfer by 25.1% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 85,521 shares of the pipeline company’s stock worth $1,387,000 after purchasing an additional 17,147 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in Energy Transfer by 10.1% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 31,806 shares of the pipeline company’s stock worth $516,000 after buying an additional 2,911 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

ET has been the subject of a number of recent research reports. Royal Bank of Canada boosted their target price on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Barclays upped their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group lifted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. The Goldman Sachs Group increased their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Finally, Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price for the company. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Stock Performance

ET stock opened at $19.45 on Tuesday. Energy Transfer LP has a 1-year low of $13.60 and a 1-year high of $20.02. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. The firm has a market cap of $66.60 billion, a PE ratio of 14.30, a P/E/G ratio of 0.62 and a beta of 1.70. The business’s 50-day moving average price is $18.79 and its two-hundred day moving average price is $17.09.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the previous year, the business posted $0.31 EPS. Energy Transfer’s revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts forecast that Energy Transfer LP will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.63%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is 94.85%.

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.