Allianz Asset Management GmbH Has $56.55 Million Stake in Energy Transfer LP $ET

Key Points

• Allianz Asset Management increased its Energy Transfer stake by 11.5% in the second quarter, adding 304,872 shares to reach 2.96 million shares valued at approximately $56.55 million.
• Energy Transfer reported strong quarterly results, with EPS of $0.59 versus the $0.38 consensus and revenue of $34.33 billion, up 78.4% year over year.
• The company offers a 6.3% dividend yield, while analysts maintain a “Moderate Buy” consensus with an average price target of $24.17; insiders also purchased more than $21.5 million of shares over the past 90 days.

Allianz Asset Management GmbH increased its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 11.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,957,838 shares of the pipeline company's stock after buying an additional 304,872 shares during the period. Allianz Asset Management GmbH owned 0.09% of Energy Transfer worth $56,554,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ET. Basepoint Wealth LLC bought a new stake in shares of Energy Transfer in the 4th quarter valued at $25,000. Osbon Capital Management LLC bought a new position in Energy Transfer during the second quarter worth about $25,000. Gables Capital Management Inc. grew its stake in Energy Transfer by 60.0% in the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company's stock valued at $26,000 after acquiring an additional 600 shares during the period. Sarver Vrooman Wealth Advisors acquired a new position in Energy Transfer in the fourth quarter valued at about $32,000. Finally, Cassaday & Co Wealth Management LLC bought a new stake in shares of Energy Transfer in the first quarter worth about $35,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Performance

Shares of ET stock opened at $21.52 on Tuesday. The company's fifty day simple moving average is $20.51 and its 200-day simple moving average is $19.66. The company has a quick ratio of 0.94, a current ratio of 1.16 and a debt-to-equity ratio of 1.45. The firm has a market cap of $74.10 billion, a PE ratio of 14.64, a P/E/G ratio of 0.73 and a beta of 0.57. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $21.77.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.21. The company had revenue of $34.33 billion during the quarter, compared to the consensus estimate of $27.71 billion. Energy Transfer had a net margin of 4.87% and a return on equity of 11.55%. The company's quarterly revenue was up 78.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. Equities research analysts expect that Energy Transfer LP will post 1.7 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th were given a $0.34 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.3%. Energy Transfer's payout ratio is 92.52%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ET shares. Jefferies Financial Group reiterated a "buy" rating on shares of Energy Transfer in a report on Wednesday, August 5th. Royal Bank Of Canada restated an "outperform" rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. JPMorgan Chase & Co. boosted their price objective on shares of Energy Transfer from $24.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday. UBS Group reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Finally, Citigroup reiterated a "buy" rating and set a $24.00 target price (up from $23.00) on shares of Energy Transfer in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $24.17.

Insider Activity

In other news, Director Kelcy Warren acquired 647,968 shares of the stock in a transaction dated Wednesday, August 19th. The shares were bought at an average cost of $21.26 per share, for a total transaction of $13,775,799.68. Following the purchase, the director directly owned 147,901,879 shares of the company's stock, valued at approximately $3,144,393,947.54. This trade represents a 0.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Perry bought 12,359 shares of the company's stock in a transaction dated Friday, August 7th. The stock was purchased at an average cost of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the acquisition, the director owned 208,046 shares in the company, valued at $4,208,770.58. This trade represents a 6.32% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 1,012,359 shares of company stock worth $21,513,543 over the last 90 days. 3.28% of the stock is owned by company insiders.

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.

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