Citizens National Bank Trust Department Buys Shares of 2,000 Energy Transfer LP (NYSE:ET)

Citizens National Bank Trust Department bought a new stake in Energy Transfer LP (NYSE:ET) in the 4th quarter, Holdings Channel reports. The institutional investor bought 2,000 shares of the pipeline company’s stock, valued at approximately $39,000.

Several other large investors have also recently bought and sold shares of the company. FMR LLC raised its position in Energy Transfer by 44.0% in the third quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after purchasing an additional 10,195,768 shares during the last quarter. Chickasaw Capital Management LLC raised its position in Energy Transfer by 2.5% in the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company’s stock valued at $308,319,000 after purchasing an additional 388,073 shares during the last quarter. Brookfield Corp ON increased its stake in shares of Energy Transfer by 2.8% in the third quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock valued at $210,896,000 after buying an additional 352,625 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after buying an additional 3,106,631 shares during the period. Finally, Citigroup Inc. increased its stake in shares of Energy Transfer by 45.9% in the third quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after buying an additional 3,013,973 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays increased their price target on Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Wells Fargo & Company increased their price target on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group increased their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Stifel Nicolaus increased their price target on Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Royal Bank of Canada increased their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.18.

Energy Transfer Trading Down 0.7 %

NYSE ET opened at $19.98 on Friday. The business has a 50 day simple moving average of $19.86 and a 200 day simple moving average of $17.87. The stock has a market capitalization of $68.54 billion, a P/E ratio of 15.61, a P/E/G ratio of 0.53 and a beta of 1.69. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer LP has a one year low of $14.52 and a one year high of $21.45.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a return on equity of 11.66% and a net margin of 5.74%. Research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were issued a $0.325 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.30 annualized dividend and a yield of 6.51%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is presently 101.56%.

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.