Northern Trust Corp Sells 8,631 Shares of Energy Transfer LP (NYSE:ET)

Northern Trust Corp reduced its holdings in Energy Transfer LP (NYSE:ET) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 330,649 shares of the pipeline company’s stock after selling 8,631 shares during the quarter. Northern Trust Corp’s holdings in Energy Transfer were worth $6,477,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. bought a new position in Energy Transfer during the 4th quarter worth $25,000. United Community Bank bought a new stake in Energy Transfer in the 4th quarter valued at about $35,000. Financial Life Planners bought a new stake in Energy Transfer in the 4th quarter valued at about $37,000. Tortoise Investment Management LLC boosted its stake in Energy Transfer by 111.1% during the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Citizens National Bank Trust Department purchased a new position in shares of Energy Transfer in the 4th quarter worth approximately $39,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on ET shares. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, March 4th. Stifel Nicolaus raised their target price on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Monday. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.36.

Energy Transfer Stock Up 0.2%

Shares of NYSE ET opened at $17.99 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $61.73 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 0.64 and a beta of 0.77. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The firm’s 50-day moving average price is $17.47 and its 200-day moving average price is $18.59.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. The business had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 earnings per share. On average, equities research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th will be issued a $0.3275 dividend. This represents a $1.31 annualized dividend and a yield of 7.28%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, May 9th. Energy Transfer’s payout ratio is presently 99.24%.

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.