Maryland State Retirement & Pension System Purchases 38,670 Shares of Energy Transfer LP (NYSE:ET)

Maryland State Retirement & Pension System increased its position in Energy Transfer LP (NYSE:ET) by 1.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,499,725 shares of the pipeline company’s stock after buying an additional 38,670 shares during the quarter. Energy Transfer accounts for approximately 0.7% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 20th largest position. Maryland State Retirement & Pension System’s holdings in Energy Transfer were worth $37,646,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Northwest Financial Advisors bought a new stake in shares of Energy Transfer in the 4th quarter valued at about $25,000. Rise Advisors LLC boosted its holdings in Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 927 shares during the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new stake in Energy Transfer during the 4th quarter valued at approximately $33,000. Harbor Investment Advisory LLC raised its holdings in Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after purchasing an additional 750 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in shares of Energy Transfer in the 4th quarter worth approximately $34,000. Institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ET. Morgan Stanley increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. UBS Group lifted their price objective on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Mizuho upped their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, Stifel Nicolaus raised their target price on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Stock Down 0.4 %

Shares of NYSE ET traded down $0.07 during trading on Thursday, hitting $16.33. 6,029,352 shares of the company traded hands, compared to its average volume of 9,580,107. The firm has a market capitalization of $55.03 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 0.45 and a beta of 1.66. The business’s fifty day moving average is $15.76 and its 200 day moving average is $15.07. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. Energy Transfer LP has a fifty-two week low of $12.46 and a fifty-two week high of $16.48.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The firm had revenue of $21.63 billion during the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The business’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 earnings per share. Equities research analysts predict that Energy Transfer LP will post 1.45 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were given a dividend of $0.317 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.76%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, May 10th. Energy Transfer’s dividend payout ratio is presently 116.51%.

Energy Transfer Company Profile

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.