Energy Transfer LP $ET Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System boosted its holdings in Energy Transfer LP (NYSE:ET) by 5.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,927,436 shares of the pipeline company’s stock after acquiring an additional 144,037 shares during the quarter. Energy Transfer comprises about 1.1% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 17th biggest holding. Maryland State Retirement & Pension System’s holdings in Energy Transfer were worth $50,235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. MinichMacGregor Wealth Management LLC acquired a new position in shares of Energy Transfer during the 3rd quarter worth $237,000. Arlington Trust Co LLC boosted its holdings in Energy Transfer by 2,069.0% during the third quarter. Arlington Trust Co LLC now owns 9,435 shares of the pipeline company’s stock worth $162,000 after buying an additional 9,000 shares in the last quarter. Pinnacle Financial Partners Inc boosted its holdings in Energy Transfer by 35.6% during the third quarter. Pinnacle Financial Partners Inc now owns 22,831 shares of the pipeline company’s stock worth $392,000 after buying an additional 6,000 shares in the last quarter. Wolff Wiese Magana LLC grew its position in Energy Transfer by 34.1% during the third quarter. Wolff Wiese Magana LLC now owns 3,935 shares of the pipeline company’s stock worth $68,000 after buying an additional 1,000 shares during the period. Finally, Jackson Hole Capital Partners LLC increased its holdings in Energy Transfer by 7.1% in the third quarter. Jackson Hole Capital Partners LLC now owns 223,592 shares of the pipeline company’s stock valued at $3,837,000 after buying an additional 14,754 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

ET has been the topic of several research analyst reports. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Morgan Stanley reduced their price objective on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, December 2nd. Barclays reissued an “overweight” rating and issued a $22.00 target price (down previously from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. Jefferies Financial Group set a $17.00 price target on Energy Transfer and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Finally, Royal Bank Of Canada raised shares of Energy Transfer to a “moderate buy” rating in a research note on Monday, December 15th. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren purchased 1,000,000 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was bought at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the acquisition, the director owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. The trade was a 0.97% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.28% of the company’s stock.

Energy Transfer Stock Down 0.7%

Shares of NYSE:ET opened at $17.33 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.41 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $59.50 billion, a P/E ratio of 13.86, a P/E/G ratio of 0.90 and a beta of 0.66. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The stock’s fifty day simple moving average is $16.64 and its 200-day simple moving average is $17.07.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.06). The firm had revenue of $19.95 billion during the quarter, compared to analyst estimates of $21.84 billion. Energy Transfer had a net margin of 5.66% and a return on equity of 10.71%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 EPS. As a group, equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Investors of record on Friday, November 7th were paid a dividend of $0.3325 per share. The ex-dividend date of this dividend was Friday, November 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 annualized dividend and a dividend yield of 7.7%. Energy Transfer’s payout ratio is currently 106.40%.

Energy Transfer Company Profile

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.