Mizuho Markets Cayman LP Sells 242,952 Shares of Energy Transfer LP $ET

Mizuho Markets Cayman LP trimmed its stake in Energy Transfer LP (NYSE:ET) by 60.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 reporting period.

A number of other hedge funds have also recently bought and sold shares of ET. Brighton Jones LLC grew its stake in Energy Transfer by 93.4% in the fourth 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 in the last quarter. AQR Capital Management LLC grew its stake in Energy Transfer by 62.8% in the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock valued at $391,000 after purchasing an additional 8,118 shares in the last quarter. Geode Capital Management LLC grew its stake in Energy Transfer by 6.2% in the second quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock valued at $2,455,000 after purchasing an additional 7,901 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Energy Transfer by 436.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock worth $76,000 after acquiring an additional 3,400 shares during the period. Finally, Guggenheim Capital LLC boosted its stake in shares of Energy Transfer by 5.6% during the 2nd quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock worth $923,000 after acquiring an additional 2,700 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ET has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, March 13th. Morgan Stanley lifted their target price on Energy Transfer from $19.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 10th. Stifel Nicolaus lifted their target price on Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $22.73.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $20.09 on Friday. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $20.70. The stock has a 50 day moving average of $19.35 and a 200-day moving average of $18.06. The company has a market capitalization of $69.14 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.21 and a beta of 0.57.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $27.77 billion for the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 earnings per share. As a group, equities research analysts predict that Energy Transfer LP will post 1.37 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Friday, May 8th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is 112.50%.

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.