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

Mizuho Markets Cayman LP increased its holdings in Energy Transfer LP (NYSE:ET) by 202.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 399,188 shares of the pipeline company’s stock after acquiring an additional 267,264 shares during the period. Mizuho Markets Cayman LP’s holdings in Energy Transfer were worth $6,850,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after purchasing an additional 11,844 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Energy Transfer by 62.8% in the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock worth $391,000 after purchasing an additional 8,118 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Energy Transfer by 2.8% in the second quarter. PNC Financial Services Group Inc. now owns 247,599 shares of the pipeline company’s stock worth $4,489,000 after purchasing an additional 6,857 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Energy Transfer by 6.2% in 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 in the last quarter. Finally, Empower Advisory Group LLC lifted its holdings in shares of Energy Transfer by 48.5% in the second quarter. Empower Advisory Group LLC now owns 17,843 shares of the pipeline company’s stock valued at $323,000 after purchasing an additional 5,828 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ET shares. Wells Fargo & Company upped their price target on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Morgan Stanley raised their price objective on Energy Transfer from $19.00 to $21.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 10th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Jefferies Financial Group reiterated a “hold” rating on shares of Energy Transfer in a report on Wednesday, February 18th. Finally, Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.60.

Energy Transfer Stock Performance

Shares of ET opened at $18.79 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 0.90 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $64.65 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.03 and a beta of 0.63. The stock has a 50 day moving average of $18.23 and a 200 day moving average of $17.31. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $19.30.

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

Energy Transfer Increases Dividend

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

About Energy Transfer

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.