Allianz Asset Management GmbH Has $51.66 Million Position in Energy Transfer LP $ET

Key Points

• Allianz Asset Management GmbH has reduced its position in Energy Transfer LP by 32.9%, now holding approximately $51.66 million worth of shares.
• Energy Transfer's stock is currently down 1.4%, with a market cap of $56.43 billion and an annual dividend yield of 8.0%.
• Analysts have given Energy Transfer an average rating of "Moderate Buy", with a consensus target price of $22.67.

Allianz Asset Management GmbH reduced its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 32.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,849,614 shares of the pipeline company's stock after selling 1,399,400 shares during the quarter. Allianz Asset Management GmbH owned about 0.08% of Energy Transfer worth $51,664,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in ET. Brighton Jones LLC grew its position in shares of Energy Transfer by 93.4% in the fourth 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. GAMMA Investing LLC grew its position in Energy Transfer by 1,139.3% during the first quarter. GAMMA Investing LLC now owns 18,590 shares of the pipeline company's stock worth $346,000 after buying an additional 17,090 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Energy Transfer by 23.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 941,444 shares of the pipeline company's stock worth $17,501,000 after buying an additional 176,812 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Energy Transfer by 2.2% during the first quarter. Janney Montgomery Scott LLC now owns 624,361 shares of the pipeline company's stock worth $11,607,000 after buying an additional 13,434 shares in the last quarter. Finally, Cornerstone Wealth Management LLC grew its position in Energy Transfer by 4.3% during the first quarter. Cornerstone Wealth Management LLC now owns 46,240 shares of the pipeline company's stock worth $860,000 after buying an additional 1,918 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kelcy L. Warren bought 1,350,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The stock was bought at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the purchase, the director owned 69,178,477 shares of the company's stock, valued at approximately $1,200,938,360.72. The trade was a 1.99% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.28% of the company's stock.

Energy Transfer Stock Down 1.4%

Shares of ET opened at $16.44 on Friday. The stock has a market cap of $56.43 billion, a price-to-earnings ratio of 12.74, a P/E/G ratio of 0.98 and a beta of 0.78. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The company has a 50-day moving average price of $17.23 and a two-hundred day moving average price of $17.39.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts' consensus estimates of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm had revenue of $19.24 billion during the quarter, compared to analysts' expectations of $24.07 billion. During the same quarter last year, the company earned $0.35 earnings per share. The company's revenue for the quarter was down 7.2% compared to the same quarter last year. Equities analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.0%. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. Energy Transfer's dividend payout ratio is presently 102.33%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ET. Scotiabank began coverage on Energy Transfer in a research report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 target price on the stock. UBS Group reissued a "buy" rating and set a $22.00 target price on shares of Energy Transfer in a research report on Wednesday. Morgan Stanley decreased their target price on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 26th. Cowen started coverage on shares of Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating for the company. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Energy Transfer in a research note on Wednesday, October 8th. Thirteen equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $22.67.

About Energy Transfer

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.

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