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

Mizuho Markets Cayman LP lifted its holdings in Energy Transfer LP (NYSE:ET) by 47.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 230,813 shares of the pipeline company’s stock after purchasing an additional 74,577 shares during the quarter. Mizuho Markets Cayman LP’s holdings in Energy Transfer were worth $4,455,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Basepoint Wealth LLC bought a new position in Energy Transfer in the fourth quarter valued at $25,000. Gables Capital Management Inc. lifted its position in Energy Transfer by 60.0% during the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after buying an additional 600 shares in the last quarter. Sarver Vrooman Wealth Advisors bought a new stake in Energy Transfer during the 4th quarter worth about $32,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Energy Transfer during the 1st quarter worth about $35,000. Finally, Navalign LLC acquired a new position in shares of Energy Transfer during the 4th quarter worth about $37,000. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.8%

Shares of ET stock opened at $20.41 on Thursday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The firm’s 50-day moving average is $19.54 and its 200-day moving average is $18.94. The stock has a market cap of $70.24 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.17 and a beta of 0.55. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $20.70.

Energy Transfer (NYSE:ET) last issued its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (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 firm had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. During the same quarter last year, the business posted $0.36 earnings per share. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. Sell-side analysts predict that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a $0.3375 dividend. 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 dividend on an annualized basis and a dividend yield of 6.6%. Energy Transfer’s payout ratio is 112.50%.

Analyst Ratings Changes

ET has been the topic of a number of recent research reports. Morgan Stanley lifted their target price on Energy Transfer from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 27th. TD Cowen reissued a “buy” rating and set a $24.00 price target (up from $23.00) on shares of Energy Transfer in a research report on Thursday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research note on Friday, June 5th. Barclays reaffirmed an “overweight” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 14th. Finally, Jefferies Financial Group upgraded Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Tuesday, May 26th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $23.50.

Energy Transfer Company 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.