Citizens Business Bank Invests $690,000 in Energy Transfer LP (NYSE:ET)

Citizens Business Bank purchased a new stake in shares of Energy Transfer LP (NYSE:ET - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,000 shares of the pipeline company's stock, valued at approximately $690,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mission Wealth Management LP grew its position in shares of Energy Transfer by 8.2% during the 4th quarter. Mission Wealth Management LP now owns 18,759 shares of the pipeline company's stock worth $259,000 after buying an additional 1,429 shares during the period. Certuity LLC bought a new stake in shares of Energy Transfer during the 4th quarter valued at $295,000. Van ECK Associates Corp lifted its stake in shares of Energy Transfer by 2.8% in the 4th quarter. Van ECK Associates Corp now owns 200,881 shares of the pipeline company's stock valued at $2,772,000 after purchasing an additional 5,420 shares during the period. Adell Harriman & Carpenter Inc. lifted its stake in shares of Energy Transfer by 99.7% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 111,304 shares of the pipeline company's stock valued at $1,536,000 after purchasing an additional 55,579 shares during the period. Finally, Chase Investment Counsel Corp boosted its position in shares of Energy Transfer by 1.8% in the 4th quarter. Chase Investment Counsel Corp now owns 51,039 shares of the pipeline company's stock worth $704,000 after purchasing an additional 880 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Stock Down 1.6 %

Shares of NYSE:ET traded down $0.25 during midday trading on Tuesday, reaching $15.73. 13,270,396 shares of the company were exchanged, compared to its average volume of 12,253,477. The firm has a market cap of $53.00 billion, a PE ratio of 14.51 and a beta of 1.64. Energy Transfer LP has a fifty-two week low of $12.18 and a fifty-two week high of $16.07. The stock has a fifty day simple moving average of $15.39 and a two-hundred day simple moving average of $14.35. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. The firm had revenue of $20.53 billion for the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The company's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.34 EPS. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.57 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be paid a dividend of $0.317 per share. This is a boost from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a dividend yield of 8.06%. The ex-dividend date of this dividend is Friday, May 10th. Energy Transfer's dividend payout ratio (DPR) is currently 115.60%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Mizuho reiterated a "buy" rating and issued a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. UBS Group lowered their target price on shares of Energy Transfer from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Thursday, February 15th. Finally, Citigroup lifted their price target on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.00.

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.

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