Energy Transfer LP $ET Shares Bought by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. raised its stake in Energy Transfer LP by 17.9%, owning a total of 257,618 shares worth approximately $4.79 million.
• Energy Transfer reported $0.32 earnings per share for the last quarter, matching analysts' expectations, but its revenue declined by 7.2% compared to the previous year.
• The company declared a quarterly dividend of $0.33 per share, maintaining a yield of 7.5%, although its payout ratio stands at 102.33%.

Northwestern Mutual Wealth Management Co. boosted its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 17.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 257,618 shares of the pipeline company's stock after buying an additional 39,024 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Energy Transfer were worth $4,789,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Strong Tower Advisory Services acquired a new stake in shares of Energy Transfer in the first quarter valued at approximately $2,604,000. Prevail Innovative Wealth Advisors LLC grew its position in shares of Energy Transfer by 316.9% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 117,312 shares of the pipeline company's stock valued at $2,181,000 after purchasing an additional 89,173 shares during the last quarter. Jefferies Financial Group Inc. grew its position in shares of Energy Transfer by 125.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 469,227 shares of the pipeline company's stock valued at $9,192,000 after purchasing an additional 260,700 shares during the last quarter. Commerce Bank acquired a new stake in shares of Energy Transfer in the first quarter valued at approximately $92,607,000. Finally, Alps Advisors Inc. grew its position in shares of Energy Transfer by 12.9% in the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock valued at $1,400,831,000 after purchasing an additional 8,613,645 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Down 0.1%

Shares of NYSE ET opened at $17.57 on Thursday. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The firm's 50 day moving average price is $17.65 and its 200 day moving average price is $17.85. The firm has a market cap of $60.30 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 0.93 and a beta of 0.83. 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 (NYSE:ET - Get Free Report) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (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 for the quarter, compared to analyst estimates of $24.07 billion. During the same quarter last year, the business earned $0.35 earnings per share. Energy Transfer's revenue was down 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were paid a dividend of $0.33 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer's payout ratio is 102.33%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. TD Cowen assumed coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating and a $22.00 price target on the stock. Mizuho increased their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Cowen assumed coverage on shares of Energy Transfer in a research report on Monday, July 7th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. lowered their price target on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $23.00 target price (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Energy Transfer currently has a consensus rating of "Moderate Buy" and an average price target of $22.50.

Insider Buying and Selling

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the transaction, the director owned 24,523 shares of the company's stock, valued at $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kelcy L. Warren purchased 1,350,000 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were bought at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the purchase, the director owned 69,178,477 shares of the company's stock, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.

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