Energy Transfer LP (NYSE:ET) Shares Purchased by Mizuho Markets Americas LLC

Mizuho Markets Americas LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 868.8% during the 2nd quarter, according to 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 period. Mizuho Markets Americas LLC’s holdings in Energy Transfer were worth $4,834,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwest Financial Advisors purchased a new position in Energy Transfer in the 4th quarter worth approximately $25,000. LRI Investments LLC acquired a new stake in Energy Transfer during the 1st quarter valued at $29,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Energy Transfer during the 4th quarter worth $33,000. Ables Iannone Moore & Associates Inc. acquired a new position in Energy Transfer in the 4th quarter worth $34,000. Finally, EdgeRock Capital LLC purchased a new position in Energy Transfer in the 4th quarter valued at about $37,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. UBS Group upped their target price on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Mizuho raised their price target 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. Stifel Nicolaus upped their price target on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Morgan Stanley raised their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Stock Performance

Energy Transfer stock traded up $0.14 during mid-day trading on Friday, reaching $16.10. The company’s stock had a trading volume of 7,872,503 shares, compared to its average volume of 18,481,058. The firm has a market cap of $55.10 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.47 and a beta of 1.66. Energy Transfer LP has a twelve month low of $12.90 and a twelve month high of $16.50. The business has a 50 day moving average price of $16.10 and a 200-day moving average price of $15.69. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate 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 quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. Sell-side analysts predict that Energy Transfer LP will post 1.4 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a dividend of $0.32 per share. 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. The ex-dividend date was Friday, August 9th. Energy Transfer’s dividend payout ratio is presently 117.43%.

Insider Buying and Selling

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was acquired at an average price of $15.68 per share, for a total transaction 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 $9,270,188.48. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction on Monday, August 12th. The shares were 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 owns 123,385,650 shares in the company, valued at $1,934,686,992. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 3,040,000 shares of company stock valued at $47,667,200. Insiders own 3.28% of the company’s stock.

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.