Energy Transfer LP (NYSE:ET) Stake Increased by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 62.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 483,822 shares of the pipeline company's stock after purchasing an additional 185,805 shares during the period. Mizuho Markets Americas LLC's holdings in Energy Transfer were worth $7,765,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ET. Nwam LLC boosted its stake in shares of Energy Transfer by 36.6% during the first quarter. Nwam LLC now owns 26,526 shares of the pipeline company's stock valued at $427,000 after purchasing an additional 7,102 shares in the last quarter. Nicolet Advisory Services LLC raised its holdings in shares of Energy Transfer by 48.8% in the first quarter. Nicolet Advisory Services LLC now owns 17,464 shares of the pipeline company's stock worth $275,000 after buying an additional 5,730 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Energy Transfer by 29.8% in the first quarter. Osaic Holdings Inc. now owns 3,653,456 shares of the pipeline company's stock worth $57,469,000 after buying an additional 838,834 shares during the last quarter. Cercano Management LLC raised its holdings in shares of Energy Transfer by 78.2% in the first quarter. Cercano Management LLC now owns 438,495 shares of the pipeline company's stock worth $6,898,000 after buying an additional 192,370 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC raised its holdings in shares of Energy Transfer by 1,166.7% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 12,160 shares of the pipeline company's stock worth $191,000 after buying an additional 11,200 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on ET shares. UBS Group raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Royal Bank of Canada lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Finally, Bank of America initiated coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Energy Transfer has an average rating of "Buy" and a consensus price target of $20.00.

Insider Buying and Selling at Energy Transfer

In related news, EVP Gregory G. Mcilwain bought 20,000 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now owns 591,211 shares of the company's stock, valued at approximately $9,270,188.48. The trade was a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.28% of the stock is currently owned by insiders.

Energy Transfer Trading Up 0.8 %

NYSE:ET traded up $0.14 on Friday, hitting $17.29. The stock had a trading volume of 13,134,774 shares, compared to its average volume of 13,358,623. The company has a fifty day moving average price of $16.42 and a two-hundred day moving average price of $16.09. The stock has a market cap of $59.20 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 0.52 and a beta of 1.66. Energy Transfer LP has a 1-year low of $13.11 and a 1-year high of $17.71. The company has a quick ratio of 0.92, a current ratio of 1.08 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $20.77 billion during the quarter, compared to analysts' expectations of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The firm's revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 EPS. Equities research analysts expect that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be issued a $0.3225 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 7.46%. Energy Transfer's dividend payout ratio is presently 94.85%.

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.