Mizuho Markets Cayman LP Has $2.58 Million Position in Energy Transfer LP $ET

Key Points

• Mizuho Markets Cayman LP cut its Energy Transfer stake by 60.9% in the fourth quarter, leaving it with 156,236 shares worth about $2.58 million.
• Energy Transfer reported Q1 revenue of $27.77 billion, topping expectations, but EPS of $0.35 missed analysts’ estimates of $0.40.
• The company raised its quarterly dividend to $0.3375 per share, implying an annualized yield of about 6.7%, while analysts remain broadly positive with a Buy consensus and average price target of $22.73.

Mizuho Markets Cayman LP lowered its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 60.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,236 shares of the pipeline company's stock after selling 242,952 shares during the quarter. Mizuho Markets Cayman LP's holdings in Energy Transfer were worth $2,576,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Mountain Capital Investment Advisors Inc. raised its position in shares of Energy Transfer by 4.9% during the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company's stock worth $216,000 after purchasing an additional 560 shares during the period. Marks Wealth LLC raised its position in shares of Energy Transfer by 4.7% during the fourth quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company's stock worth $207,000 after purchasing an additional 560 shares during the period. SP Asset Management LLC raised its position in shares of Energy Transfer by 2.0% during the fourth quarter. SP Asset Management LLC now owns 30,631 shares of the pipeline company's stock worth $505,000 after purchasing an additional 589 shares during the period. Gables Capital Management Inc. raised its position in shares of Energy Transfer by 60.0% during the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company's stock worth $26,000 after purchasing an additional 600 shares during the period. Finally, Fiduciary Financial Group LLC raised its position in shares of Energy Transfer by 2.2% during the fourth quarter. Fiduciary Financial Group LLC now owns 28,106 shares of the pipeline company's stock worth $463,000 after purchasing an additional 607 shares during the period. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Stock Up 0.4%

NYSE:ET opened at $20.09 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The company has a market cap of $69.14 billion, a PE ratio of 16.74, a PEG ratio of 1.21 and a beta of 0.57. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $20.70. The stock has a 50-day simple moving average of $19.35 and a 200 day simple moving average of $18.06.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.05). The firm had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm's quarterly revenue was up 32.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. On average, sell-side analysts expect that Energy Transfer LP will post 1.37 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a $0.3375 dividend. This is a positive change from Energy Transfer's previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date was Friday, May 8th. Energy Transfer's dividend payout ratio is 112.50%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ET shares. Stifel Nicolaus raised their price target on Energy Transfer from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Barclays reaffirmed an "overweight" rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 14th. TD Cowen reiterated a "buy" rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Wednesday, May 13th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a report on Tuesday, May 12th. Finally, Citigroup reiterated a "buy" rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $22.73.

About Energy Transfer

Energy Transfer NYSE: ET is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company's operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.

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