Maryland State Retirement & Pension System increased its position in Energy Transfer LP (NYSE:ET - Free Report) by 6.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,783,399 shares of the pipeline company's stock after buying an additional 164,563 shares during the period. Energy Transfer accounts for approximately 1.1% of Maryland State Retirement & Pension System's investment portfolio, making the stock its 13th biggest holding. Maryland State Retirement & Pension System owned about 0.08% of Energy Transfer worth $50,463,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock valued at $481,000 after purchasing an additional 11,844 shares during the last quarter. GAMMA Investing LLC boosted its stake in Energy Transfer by 1,139.3% during the 1st quarter. GAMMA Investing LLC now owns 18,590 shares of the pipeline company's stock valued at $346,000 after purchasing an additional 17,090 shares during the last quarter. Park Avenue Securities LLC boosted its stake in Energy Transfer by 43.1% during the 1st quarter. Park Avenue Securities LLC now owns 17,324 shares of the pipeline company's stock valued at $322,000 after purchasing an additional 5,216 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Energy Transfer by 22.7% during the 1st quarter. Farther Finance Advisors LLC now owns 45,507 shares of the pipeline company's stock valued at $852,000 after purchasing an additional 8,424 shares during the last quarter. Finally, Pallas Capital Advisors LLC boosted its stake in Energy Transfer by 84.4% during the 1st quarter. Pallas Capital Advisors LLC now owns 18,463 shares of the pipeline company's stock valued at $343,000 after purchasing an additional 8,451 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.
Energy Transfer Trading Up 0.2%
NYSE:ET opened at $16.70 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $57.33 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 0.98 and a beta of 0.78. The firm's 50 day moving average is $17.39 and its 200 day moving average is $17.50. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45.
Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts' consensus estimates of $0.32. The company had revenue of $19.24 billion for the quarter, compared to analysts' expectations of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. Energy Transfer's revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 EPS. Sell-side analysts expect 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 was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend was Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is presently 102.33%.
Insider Transactions at Energy Transfer
In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the acquisition, the director directly owned 69,178,477 shares of the company's stock, valued at $1,200,938,360.72. The trade was a 1.99% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.28% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on ET shares. Wells Fargo & Company reiterated an "overweight" rating and set a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Morgan Stanley cut their price target on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Tuesday, August 26th. TD Cowen started coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating and a $22.00 target price on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Energy Transfer in a research report on Wednesday. Finally, Scotiabank started coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 target price on the stock. Fourteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $22.50.
View Our Latest Stock Analysis on ET
About Energy Transfer
(
Free Report)
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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