Mizuho Markets Americas LLC Makes New $61.76 Million Investment in Energy Transfer LP $ET

Mizuho Markets Americas LLC bought a new position in Energy Transfer LP (NYSE:ET) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,200,000 shares of the pipeline company’s stock, valued at approximately $61,760,000. Energy Transfer accounts for 1.7% of Mizuho Markets Americas LLC’s portfolio, making the stock its 18th largest position. Mizuho Markets Americas LLC owned approximately 0.09% of Energy Transfer at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Keybank National Association OH raised its holdings in Energy Transfer by 0.3% during the first quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock worth $4,231,000 after purchasing an additional 556 shares in the last quarter. Mountain Capital Investment Advisors Inc. boosted its holdings 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 purchasing an additional 560 shares in the last quarter. Marks Wealth LLC increased its position in Energy Transfer by 4.7% during the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock worth $207,000 after purchasing an additional 560 shares during the period. Citizens Financial Group Inc. RI raised its stake in shares of Energy Transfer by 2.4% during the 1st quarter. Citizens Financial Group Inc. RI now owns 23,978 shares of the pipeline company’s stock worth $463,000 after buying an additional 562 shares in the last quarter. Finally, Avos Capital Management LLC raised its stake in shares of Energy Transfer by 0.8% during the 4th quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock worth $1,265,000 after buying an additional 583 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

Shares of ET opened at $20.41 on Friday. Energy Transfer LP has a 12-month low of $16.18 and a 12-month high of $20.70. The stock has a market cap of $70.23 billion, a P/E ratio of 17.01, a PEG ratio of 1.18 and a beta of 0.55. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The company has a 50-day moving average of $19.54 and a two-hundred day moving average of $18.96.

Energy Transfer (NYSE:ET) last released its quarterly 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 net margin of 4.66% and a return on equity of 9.77%. The business had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. During the same quarter in the prior year, the company earned $0.36 earnings per share. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. As a group, research analysts predict that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a dividend of $0.3375 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a yield of 6.6%. Energy Transfer’s dividend payout ratio (DPR) is 112.50%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Zacks Research raised Energy Transfer from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Jefferies Financial Group raised shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Tuesday, May 26th. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Stifel Nicolaus raised their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, UBS Group restated a “buy” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $23.50.

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.