Ieq Capital LLC raised its holdings in Energy Transfer LP (NYSE:ET – Free Report) by 34.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,446 shares of the pipeline company’s stock after acquiring an additional 15,906 shares during the period. Ieq Capital LLC’s holdings in Energy Transfer were worth $779,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC boosted its position in shares of 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 buying an additional 145,810,023 shares during the period. Natixis raised its holdings in Energy Transfer by 56.4% during the fourth quarter. Natixis now owns 42,600,549 shares of the pipeline company’s stock worth $505,669,000 after acquiring an additional 15,361,035 shares in the last quarter. Morgan Stanley raised its holdings in Energy Transfer by 20.9% during the fourth quarter. Morgan Stanley now owns 76,339,168 shares of the pipeline company’s stock worth $906,146,000 after acquiring an additional 13,220,435 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in Energy Transfer by 323.6% during the first quarter. Maryland State Retirement & Pension System now owns 2,752,428 shares of the pipeline company’s stock worth $34,323,000 after acquiring an additional 2,102,618 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Energy Transfer by 13.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,126,047 shares of the pipeline company’s stock worth $203,286,000 after acquiring an additional 2,005,409 shares in the last quarter. 34.47% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, Chairman Kelcy L. Warren purchased 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average cost of $12.49 per share, with a total value of $12,490,000.00. Following the acquisition, the chairman now owns 60,078,477 shares in the company, valued at approximately $750,380,177.73. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Kelcy L. Warren acquired 500,000 shares of the stock in a transaction on Friday, May 12th. The shares were purchased at an average price of $12.27 per share, for a total transaction of $6,135,000.00. Following the purchase, the chairman now directly owns 59,078,477 shares in the company, valued at $724,892,912.79. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Kelcy L. Warren acquired 1,000,000 shares of the stock in a transaction on Monday, May 15th. The shares were bought at an average price of $12.49 per share, for a total transaction of $12,490,000.00. Following the purchase, the chairman now owns 60,078,477 shares in the company, valued at $750,380,177.73. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,510,000 shares of company stock valued at $18,749,300. Insiders own 3.28% of the company’s stock.
Energy Transfer Price Performance
Energy Transfer (NYSE:ET – Get Free Report) last released its quarterly earnings results on Tuesday, May 2nd. The pipeline company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01). The firm had revenue of $19 billion for the quarter, compared to analyst estimates of $21.49 billion. Energy Transfer had a return on equity of 13.06% and a net margin of 5.08%. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 earnings per share. Equities research analysts predict that Energy Transfer LP will post 1.3 earnings per share for the current year.
Energy Transfer Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Monday, May 8th were issued a dividend of $0.308 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.23 annualized dividend and a yield of 9.37%. The ex-dividend date was Friday, May 5th. Energy Transfer’s dividend payout ratio (DPR) is presently 91.79%.
Analyst Ratings Changes
Several analysts recently issued reports on ET shares. Morgan Stanley reiterated an “overweight” rating and set a $17.00 target price on shares of Energy Transfer in a report on Thursday. Mizuho upped their target price on Energy Transfer from $17.00 to $18.00 in a report on Tuesday, July 18th. Finally, Barclays upped their price objective on Energy Transfer from $15.00 to $16.00 in a research note on Tuesday, April 18th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $16.57.
About Energy Transfer
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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