Northern Trust Corp Acquires 738,885 Shares of Energy Transfer LP $ET

Northern Trust Corp increased its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 223.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,069,534 shares of the pipeline company's stock after buying an additional 738,885 shares during the period. Northern Trust Corp's holdings in Energy Transfer were worth $19,883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new position in shares of Energy Transfer during the 4th quarter worth about $26,000. Fourth Dimension Wealth LLC acquired a new stake in Energy Transfer in the 4th quarter valued at about $29,000. Vision Financial Markets LLC bought a new position in Energy Transfer during the first quarter worth about $33,000. HWG Holdings LP acquired a new position in Energy Transfer during the first quarter worth approximately $38,000. Finally, Stone House Investment Management LLC acquired a new position in Energy Transfer during the first quarter worth approximately $38,000. Institutional investors and hedge funds own 38.22% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Morgan Stanley dropped their price target on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 26th. TD Cowen started coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 price target for the company. Cowen started coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating on the stock. Finally, Mizuho increased their price objective 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. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Energy Transfer currently has a consensus rating of "Moderate Buy" and an average target price of $22.54.

Insiders Place Their Bets

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were bought at an average cost of $17.36 per share, with a total value of $23,436,000.00. Following the acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the director directly owned 24,523 shares of the company's stock, valued at approximately $453,185.04. The trade was a 5.29% decrease in their position. The disclosure for this sale can be found here. 3.28% of the stock is currently owned by insiders.

Energy Transfer Price Performance

Shares of ET stock traded up $0.09 during trading on Thursday, hitting $17.66. The company had a trading volume of 4,728,332 shares, compared to its average volume of 15,237,600. The firm has a market capitalization of $60.60 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 0.93 and a beta of 0.85. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. The stock's 50-day moving average price is $17.64 and its 200 day moving average price is $17.77.

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, meeting analysts' consensus estimates of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business had revenue of $19.24 billion during the quarter, compared to the consensus estimate of $24.07 billion. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Energy Transfer's revenue for the quarter was down 7.2% compared to the same quarter last year. Equities analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 7.5%. The ex-dividend date was Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is 102.33%.

About Energy Transfer

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.