Energy Transfer LP (NYSE:ET) Shares Acquired by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System increased its holdings in Energy Transfer LP by 3.0%, acquiring 76,981 shares to reach a total of 2,618,836 shares, making it the 12th largest holding in the fund.
• Energy Transfer recently increased its quarterly dividend to $0.33, representing a 7.4% yield and a payout ratio of approximately 99.24%.
• Analysts maintain a majority optimistic outlook for Energy Transfer, with twelve buy ratings and an average target price of $22.58, despite recent adjustments in price targets from firms such as JPMorgan and Wells Fargo.

Maryland State Retirement & Pension System boosted its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 3.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,618,836 shares of the pipeline company's stock after buying an additional 76,981 shares during the quarter. Energy Transfer makes up 1.2% of Maryland State Retirement & Pension System's portfolio, making the stock its 12th largest position. Maryland State Retirement & Pension System owned 0.08% of Energy Transfer worth $48,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital A Wealth Management LLC bought a new stake in Energy Transfer during the 4th quarter valued at $26,000. Fourth Dimension Wealth LLC bought a new stake in Energy Transfer during the 4th quarter valued at $29,000. Vision Financial Markets LLC bought a new stake in Energy Transfer during the 1st quarter valued at $33,000. HWG Holdings LP bought a new stake in Energy Transfer during the 1st quarter valued at $38,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Energy Transfer during the 1st quarter valued at $40,000. Institutional investors own 38.22% of the company's stock.

Energy Transfer Stock Down 1.9%

NYSE ET traded down $0.34 during trading on Friday, hitting $17.28. The company's stock had a trading volume of 15,395,290 shares, compared to its average volume of 13,786,576. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. The company has a market cap of $59.30 billion, a PE ratio of 13.40, a P/E/G ratio of 0.91 and a beta of 0.83. The business's 50 day simple moving average is $17.79 and its 200-day simple moving average is $18.14. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The business had revenue of $19.24 billion during the quarter, compared to the consensus estimate of $24.07 billion. Energy Transfer had a return on equity of 11.07% and a net margin of 5.80%. The company's quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter last year, the company earned $0.35 earnings per share. On average, equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th will be issued a $0.33 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date of this dividend is Friday, August 8th. Energy Transfer's dividend payout ratio is currently 101.55%.

Analyst Ratings Changes

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

Insider Buying and Selling at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the transaction, the director directly owned 24,523 shares of the company's stock, valued at approximately $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.28% of the company's stock.

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.