Mizuho Markets Americas LLC boosted its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 868.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 298,017 shares of the pipeline company's stock after buying an additional 267,256 shares during the quarter. Mizuho Markets Americas LLC's holdings in Energy Transfer were worth $4,834,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in Energy Transfer by 12.1% during the fourth quarter. International Assets Investment Management LLC now owns 272,243 shares of the pipeline company's stock valued at $3,757,000 after purchasing an additional 29,483 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Energy Transfer by 2.8% in the fourth quarter. Van ECK Associates Corp now owns 200,881 shares of the pipeline company's stock worth $2,772,000 after buying an additional 5,420 shares in the last quarter. Mission Wealth Management LP lifted its stake in shares of Energy Transfer by 8.2% in the fourth 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 in the last quarter. Savant Capital LLC lifted its stake in shares of Energy Transfer by 19.7% in the fourth quarter. Savant Capital LLC now owns 26,335 shares of the pipeline company's stock worth $363,000 after buying an additional 4,340 shares in the last quarter. Finally, Essex Financial Services Inc. lifted its stake in shares of Energy Transfer by 4.9% in the fourth quarter. Essex Financial Services Inc. now owns 32,861 shares of the pipeline company's stock worth $453,000 after buying an additional 1,533 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company's stock.
Insider Activity at Energy Transfer
In other Energy Transfer news, CEO Thomas E. Long acquired 20,000 shares of the company's stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the chief executive officer now owns 4,308,859 shares of the company's stock, valued at approximately $67,562,909.12. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Thomas E. Long purchased 20,000 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the chief executive officer now directly owns 4,308,859 shares of the company's stock, valued at $67,562,909.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares of the company's stock, valued at $1,934,686,992. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 3,040,000 shares of company stock worth $47,667,200. Corporate insiders own 3.28% of the company's stock.
Energy Transfer Trading Up 0.9 %
Shares of ET traded up $0.14 during trading on Friday, reaching $16.10. 7,872,503 shares of the company traded hands, compared to its average volume of 18,481,058. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38. The stock has a market cap of $55.10 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.47 and a beta of 1.66. The stock has a 50-day simple moving average of $16.10 and a 200-day simple moving average of $15.69. Energy Transfer LP has a twelve month low of $12.90 and a twelve month high of $16.50.
Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). The business had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company's revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS. On average, analysts anticipate that Energy Transfer LP will post 1.4 earnings per share for the current year.
Energy Transfer Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.95%. This is a boost from Energy Transfer's previous quarterly dividend of $0.32. Energy Transfer's payout ratio is 117.43%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on ET. Morgan Stanley raised their price target 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. UBS Group raised their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, May 15th. Mizuho raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an "overweight" rating in a research report on Thursday, June 20th. Finally, Stifel Nicolaus raised their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $19.29.
View Our Latest Stock Report on ET
Energy Transfer Company Profile
(
Free Report)
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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