Northwestern Mutual Wealth Management Co. Decreases Holdings in Energy Transfer LP $ET

Northwestern Mutual Wealth Management Co. decreased its position in shares of Energy Transfer LP (NYSE:ET) by 22.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 197,917 shares of the pipeline company’s stock after selling 56,188 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Energy Transfer were worth $3,264,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ET. Brighton Jones LLC boosted its stake in shares of Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after acquiring an additional 11,844 shares in the last quarter. AQR Capital Management LLC lifted its stake in Energy Transfer by 62.8% in the 1st quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock valued at $391,000 after buying an additional 8,118 shares in the last quarter. Geode Capital Management LLC lifted its stake in Energy Transfer by 6.2% in the 2nd quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock valued at $2,455,000 after buying an additional 7,901 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Energy Transfer by 436.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock valued at $76,000 after buying an additional 3,400 shares in the last quarter. Finally, Guggenheim Capital LLC lifted its stake in Energy Transfer by 5.6% in the 2nd quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock valued at $923,000 after buying an additional 2,700 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET stock opened at $20.09 on Tuesday. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $20.70. 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 stock’s 50 day moving average price is $19.38 and its 200 day moving average price is $18.10. The firm has a market cap of $69.14 billion, a P/E ratio of 16.74, a PEG ratio of 1.21 and a beta of 0.57.

Energy Transfer (NYSE:ET) last issued 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 business had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The company’s revenue was up 32.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.36 earnings per share. On average, sell-side analysts expect that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. JPMorgan Chase & Co. upped their target price on Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research note on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of “Buy” and an average price target of $22.73.

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.