Banco Santander S.A. Makes New $1.04 Million Investment in Energy Transfer LP (NYSE:ET)

Key Points

• Banco Santander S.A. has made a new investment of approximately $1.04 million in Energy Transfer LP by purchasing 55,926 shares in the first quarter.
• Energy Transfer's quarterly earnings report showed an EPS of $0.36, exceeding expectations, but the company's revenue decreased 2.8% year-over-year.
• The firm announced a quarterly dividend of $0.33, reflecting a yield of 7.4% and a payout ratio of 99.24%.

Banco Santander S.A. purchased a new position in shares of Energy Transfer LP (NYSE:ET - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 55,926 shares of the pipeline company's stock, valued at approximately $1,040,000.

A number of other hedge funds also recently bought and sold shares of the business. Alps Advisors Inc. boosted its position in Energy Transfer by 12.9% during the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock worth $1,400,831,000 after purchasing an additional 8,613,645 shares in the last quarter. FMR LLC raised its holdings in shares of Energy Transfer by 15.7% during the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after acquiring an additional 5,254,721 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in shares of Energy Transfer by 0.8% during the first quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company's stock valued at $449,329,000 after acquiring an additional 182,705 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Energy Transfer by 5.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company's stock valued at $387,416,000 after acquiring an additional 1,093,381 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its holdings in shares of Energy Transfer by 18.2% during the fourth quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock valued at $319,929,000 after acquiring an additional 2,512,060 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company's stock.

Wall Street Analyst Weigh In

ET has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their target price on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, May 19th. Mizuho increased their target price on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. TD Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 target price for the company. Finally, Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating for the company. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.58.

Insiders Place Their Bets

In related news, Director James Richard Perry sold 1,369 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the transaction, the director directly owned 24,523 shares in the company, valued at approximately $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.28% of the company's stock.

Energy Transfer Price Performance

NYSE:ET opened at $17.80 on Monday. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.92 and a current ratio of 1.12. The stock has a market cap of $61.09 billion, a PE ratio of 13.48, a P/E/G ratio of 0.92 and a beta of 0.83. The stock has a 50 day moving average price of $17.79 and a 200 day moving average price of $18.20.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The firm had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. During the same quarter last year, the firm earned $0.32 earnings per share. The business's revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Investors of record on Friday, August 8th will be given a $0.33 dividend. The ex-dividend date is Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 annualized dividend and a yield of 7.4%. Energy Transfer's dividend payout ratio (DPR) is currently 99.24%.

Energy Transfer Company Profile

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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