Mizuho Markets Cayman LP Has $4.46 Million Position in Energy Transfer LP $ET

Mizuho Markets Cayman LP grew its stake in Energy Transfer LP (NYSE:ET) by 47.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 230,813 shares of the pipeline company’s stock after acquiring an additional 74,577 shares during the period. Mizuho Markets Cayman LP’s holdings in Energy Transfer were worth $4,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Keybank National Association OH boosted its holdings in shares of Energy Transfer by 0.3% during the 1st quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock worth $4,231,000 after buying an additional 556 shares during the period. Mountain Capital Investment Advisors Inc. grew its stake in Energy Transfer by 4.9% in the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock valued at $216,000 after buying an additional 560 shares during the last quarter. Marks Wealth LLC raised its holdings in Energy Transfer by 4.7% in the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock valued at $207,000 after acquiring an additional 560 shares during the period. Citizens Financial Group Inc. RI raised its holdings in Energy Transfer by 2.4% in the 1st quarter. Citizens Financial Group Inc. RI now owns 23,978 shares of the pipeline company’s stock valued at $463,000 after acquiring an additional 562 shares during the period. Finally, Avos Capital Management LLC lifted its position in Energy Transfer by 0.8% during the fourth quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock worth $1,265,000 after acquiring an additional 583 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ET. Jefferies Financial Group raised Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Tuesday, May 26th. Zacks Research raised Energy Transfer from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Stifel Nicolaus boosted their price target on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Finally, Barclays reiterated an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 14th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $23.50.

Energy Transfer Stock Performance

NYSE ET opened at $20.41 on Thursday. The firm has a 50-day moving average price of $19.54 and a two-hundred day moving average price of $18.94. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $20.70. The company has a market capitalization of $70.24 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.17 and a beta of 0.55. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. During the same period in the prior year, the business posted $0.36 earnings per share. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. Analysts anticipate that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a $0.3375 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.35 annualized dividend and a yield of 6.6%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is presently 112.50%.

Energy Transfer Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.