US Bancorp DE lifted its stake in shares of Energy Transfer LP (NYSE:ET – Free Report) by 10.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,070 shares of the pipeline company’s stock after acquiring an additional 6,778 shares during the period. US Bancorp DE’s holdings in Energy Transfer were worth $928,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in ET. Moneta Group Investment Advisors LLC boosted its holdings in Energy Transfer by 109,332.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 145,943,387 shares of the pipeline company’s stock worth $1,732,348,000 after purchasing an additional 145,810,023 shares during the last quarter. Morgan Stanley lifted its stake in shares of Energy Transfer by 20.9% during the 4th quarter. Morgan Stanley now owns 76,339,168 shares of the pipeline company’s stock worth $906,146,000 after buying an additional 13,220,435 shares during the last quarter. FMR LLC lifted its stake in shares of Energy Transfer by 7.2% during the 1st quarter. FMR LLC now owns 28,241,913 shares of the pipeline company’s stock worth $352,177,000 after buying an additional 1,886,054 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Energy Transfer by 0.8% during the 1st quarter. Clearbridge Investments LLC now owns 22,600,697 shares of the pipeline company’s stock worth $252,902,000 after buying an additional 184,203 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC increased its position in Energy Transfer by 12.2% during the second quarter. BNP Paribas Arbitrage SNC now owns 9,420,338 shares of the pipeline company’s stock worth $119,638,000 after acquiring an additional 1,023,606 shares during the period. Institutional investors own 33.79% of the company’s stock.
Energy Transfer Stock Down 0.1 %
Shares of NYSE ET opened at $13.72 on Monday. The company’s 50 day moving average price is $13.61 and its 200-day moving average price is $13.19. The company has a market capitalization of $43.15 billion, a P/E ratio of 12.94 and a beta of 1.66. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.85 and a current ratio of 1.05. Energy Transfer LP has a 52-week low of $11.37 and a 52-week high of $14.15.
Energy Transfer (NYSE:ET – Get Free Report) last released its quarterly earnings data on Wednesday, November 1st. The pipeline company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. The company had revenue of $20.74 billion during the quarter, compared to analyst estimates of $21.68 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 11.98%. Equities analysts forecast that Energy Transfer LP will post 1.2 earnings per share for the current year.
Energy Transfer Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Monday, October 30th were paid a dividend of $0.313 per share. This represents a $1.25 dividend on an annualized basis and a yield of 9.13%. The ex-dividend date was Friday, October 27th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s payout ratio is 117.92%.
Analysts Set New Price Targets
A number of equities analysts recently commented on ET shares. The Goldman Sachs Group initiated coverage on shares of Energy Transfer in a research report on Thursday, October 5th. They set a “neutral” rating and a $14.00 price target on the stock. Pickering Energy Partners assumed coverage on shares of Energy Transfer in a research note on Tuesday, October 3rd. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. lifted their target price on shares of Energy Transfer from $17.00 to $18.00 in a research report on Tuesday, October 10th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $16.50.
Get Our Latest Research Report on ET
Insider Transactions at Energy Transfer
In related news, Chairman Kelcy L. Warren purchased 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were bought at an average cost of $13.53 per share, with a total value of $13,530,000.00. Following the acquisition, the chairman now owns 65,578,477 shares of the company’s stock, valued at $887,276,793.81. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Marshall S. Mccrea III purchased 50,000 shares of the stock in a transaction dated Tuesday, September 5th. The shares were purchased at an average cost of $13.79 per share, with a total value of $689,500.00. Following the completion of the acquisition, the chief executive officer now owns 6,769,267 shares in the company, valued at approximately $93,348,191.93. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Kelcy L. Warren acquired 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was bought at an average price of $13.53 per share, for a total transaction of $13,530,000.00. Following the completion of the transaction, the chairman now owns 65,578,477 shares of the company’s stock, valued at approximately $887,276,793.81. The disclosure for this purchase can be found here. Insiders bought a total of 1,107,500 shares of company stock worth $15,001,475 in the last quarter. 3.28% of the stock is currently owned by corporate insiders.
Energy Transfer Profile
Energy Transfer LP provides energy-related services. The company owns and operates approximately 11,600 miles of natural gas transportation pipeline, and three natural gas storage facilities in Texas and two natural gas storage facilities located in the state of Texas and Oklahoma; and 19,945 miles of interstate natural gas pipeline.
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Source: defenseworld.net
