Boston Partners Invests $6.65 Million in Energy Transfer LP (NYSE:ET)

Key Points

• Boston Partners has acquired 357,915 shares of Energy Transfer LP, valued at approximately $6.65 million, indicating strong institutional interest in the pipeline company.
• Energy Transfer announced a quarterly dividend of $0.33 per share, with a dividend yield of 7.7%, reflecting its commitment to returning value to shareholders despite a high payout ratio.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Energy Transfer, with a consensus price target of $22.75, suggesting potential for future growth.

Boston Partners bought a new stake in shares of Energy Transfer LP (NYSE:ET - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 357,915 shares of the pipeline company's stock, valued at approximately $6,654,000.

Several other hedge funds have also recently made changes to their positions in ET. Capital A Wealth Management LLC purchased a new stake in Energy Transfer in the fourth quarter worth $26,000. Fourth Dimension Wealth LLC purchased a new stake in Energy Transfer in the fourth quarter worth $29,000. Vision Financial Markets LLC purchased a new stake in Energy Transfer in the first quarter worth $33,000. HWG Holdings LP purchased a new stake in Energy Transfer in the first quarter worth $38,000. Finally, Stone House Investment Management LLC purchased a new stake in Energy Transfer in the first quarter worth $38,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ET. JPMorgan Chase & Co. lowered their price target on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. TD Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 price target on the stock. Wells Fargo & Company reaffirmed an "overweight" rating and set a $23.00 price target (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. 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. Finally, Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $22.75.

Energy Transfer Stock Performance

Shares of NYSE ET traded down $0.13 during trading on Friday, hitting $17.25. The company had a trading volume of 9,974,797 shares, compared to its average volume of 14,575,259. The stock has a 50 day simple moving average of $17.75 and a 200 day simple moving average of $17.98. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The firm has a market capitalization of $59.21 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 0.90 and a beta of 0.83.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The company had revenue of $19.24 billion for the quarter, compared to the consensus estimate of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%. The firm's quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. As a group, analysts anticipate 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 will be paid on Tuesday, August 19th. Investors of record on Friday, August 8th will be paid a dividend of $0.33 per share. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, August 8th. This represents a $1.32 annualized dividend and a yield of 7.7%. Energy Transfer's dividend payout ratio is 102.33%.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $18.48, for a total transaction of $25,299.12. Following the completion of the transaction, the director owned 24,523 shares in the company, valued at $453,185.04. This trade represents a 5.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 3.28% of the company's stock.

Energy Transfer 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.