Mizuho Markets Cayman LP Buys 267,264 Shares of Energy Transfer LP $ET

Mizuho Markets Cayman LP raised its stake in Energy Transfer LP (NYSE:ET) by 202.6% during the third quarter, Holdings Channel reports. The fund owned 399,188 shares of the pipeline company’s stock after buying an additional 267,264 shares during the period. Mizuho Markets Cayman LP’s holdings in Energy Transfer were worth $6,850,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC increased its stake in shares of Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after purchasing an additional 11,844 shares during the last quarter. AQR Capital Management LLC lifted its stake in Energy Transfer by 62.8% in the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock valued at $391,000 after purchasing an additional 8,118 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Energy Transfer by 2.8% during the second quarter. PNC Financial Services Group Inc. now owns 247,599 shares of the pipeline company’s stock valued at $4,489,000 after purchasing an additional 6,857 shares during the period. Geode Capital Management LLC grew its holdings in Energy Transfer by 6.2% during the second quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock valued at $2,455,000 after purchasing an additional 7,901 shares during the period. Finally, Empower Advisory Group LLC increased its position in Energy Transfer by 48.5% in the second quarter. Empower Advisory Group LLC now owns 17,843 shares of the pipeline company’s stock worth $323,000 after buying an additional 5,828 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. lowered their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, November 24th. TD Cowen lifted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Scotiabank restated an “outperform” rating on shares of Energy Transfer in a research note on Friday, January 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Energy Transfer in a report on Wednesday, December 24th. Finally, Wells Fargo & Company increased their target price on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.60.

Energy Transfer Trading Up 0.3%

NYSE:ET opened at $18.79 on Wednesday. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $19.30. The stock’s fifty day moving average price is $18.23 and its two-hundred day moving average price is $17.31. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.22 and a quick ratio of 0.90. The company has a market cap of $64.65 billion, a P/E ratio of 15.53, a P/E/G ratio of 1.03 and a beta of 0.63.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.09). Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. The company had revenue of $25.32 billion during the quarter, compared to analysts’ expectations of $23.56 billion. During the same quarter last year, the firm posted $0.29 earnings per share. Energy Transfer’s revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 19th. Shareholders of record on Friday, February 6th were issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend was Friday, February 6th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is presently 110.74%.

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.