TIAA Trust National Association Sells 686 Shares of Energy Transfer LP (NYSE:ET)

TIAA Trust National Association trimmed its position in Energy Transfer LP (NYSE:ET) by 4.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 14,462 shares of the pipeline company’s stock after selling 686 shares during the period. TIAA Trust National Association’s holdings in Energy Transfer were worth $227,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. First Reserve GP XIII Ltd bought a new position in Energy Transfer in the 4th quarter worth approximately $322,097,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Energy Transfer by 38.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after buying an additional 7,097,074 shares during the period. Clearbridge Investments LLC boosted its holdings in Energy Transfer by 18.5% in the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock worth $350,845,000 after buying an additional 3,976,676 shares during the period. International Assets Investment Management LLC boosted its holdings in Energy Transfer by 1,447.6% in the 4th quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock worth $518,460,000 after buying an additional 3,514,195 shares during the period. Finally, UBS Group AG boosted its holdings in Energy Transfer by 13.3% in the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after buying an additional 3,368,427 shares during the period. 38.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on ET. UBS Group increased their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Morgan Stanley increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Mizuho increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. JPMorgan Chase & Co. increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Finally, Stifel Nicolaus increased their target price on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Price Performance

Shares of Energy Transfer stock traded down $0.15 on Monday, hitting $16.29. 13,356,688 shares of the company traded hands, compared to its average volume of 12,129,413. The company has a market cap of $54.90 billion, a P/E ratio of 14.93, a P/E/G ratio of 0.45 and a beta of 1.66. The firm’s 50-day simple moving average is $15.84 and its 200 day simple moving average is $15.28. Energy Transfer LP has a 12-month low of $12.46 and a 12-month high of $16.50. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The business had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. Energy Transfer’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 EPS. Analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were given a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a yield of 7.78%. The ex-dividend date was Friday, May 10th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is presently 116.51%.

Energy Transfer Company 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.