Energy Transfer LP (NYSE:ET) Shares Purchased by Berkley W R Corp

Berkley W R Corp raised its stake in Energy Transfer LP (NYSE:ET - Free Report) by 11.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,334,494 shares of the pipeline company's stock after buying an additional 555,445 shares during the quarter. Energy Transfer makes up approximately 4.7% of Berkley W R Corp's investment portfolio, making the stock its 3rd largest position. Berkley W R Corp owned about 0.16% of Energy Transfer worth $83,912,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Northwest Financial Advisors acquired a new position in Energy Transfer in the fourth quarter valued at approximately $25,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Energy Transfer in the fourth quarter valued at $33,000. Harbor Investment Advisory LLC lifted its stake in shares of Energy Transfer by 42.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company's stock valued at $34,000 after purchasing an additional 750 shares during the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Energy Transfer during the 4th quarter worth $34,000. Finally, EdgeRock Capital LLC acquired a new stake in shares of Energy Transfer during the 4th quarter worth about $37,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Shares of NYSE:ET traded down $0.25 on Monday, reaching $16.02. The company's stock had a trading volume of 19,377,552 shares, compared to its average volume of 12,754,521. Energy Transfer LP has a 52-week low of $12.46 and a 52-week high of $16.50. The stock has a market capitalization of $53.99 billion, a P/E ratio of 14.70, a PEG ratio of 0.43 and a beta of 1.66. The stock's 50-day moving average is $15.88 and its two-hundred day moving average is $15.38. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.18 and a quick ratio of 1.00.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). The company had revenue of $21.63 billion for 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 last year, the company earned $0.32 EPS. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.47 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 9th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 7.99%. The ex-dividend date of this dividend is Friday, August 9th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's dividend payout ratio is currently 116.51%.

Analyst Ratings Changes

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

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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