Mizuho Markets Americas LLC Makes New Investment in Energy Transfer LP $ET

Mizuho Markets Americas LLC purchased a new position in shares of Energy Transfer LP (NYSE:ET) in the first quarter, HoldingsChannel reports. The fund purchased 3,200,000 shares of the pipeline company’s stock, valued at approximately $61,760,000. Energy Transfer makes up approximately 1.7% of Mizuho Markets Americas LLC’s holdings, making the stock its 18th biggest position.

Other institutional investors have also modified their holdings of the company. Basepoint Wealth LLC purchased a new position in shares of Energy Transfer during the fourth quarter valued at approximately $25,000. Gables Capital Management Inc. grew its stake in Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after acquiring an additional 600 shares during the period. Sarver Vrooman Wealth Advisors purchased a new stake in Energy Transfer in the 4th quarter worth approximately $32,000. Cassaday & Co Wealth Management LLC acquired a new position in Energy Transfer in the 1st quarter valued at $35,000. Finally, Navalign LLC purchased a new position in shares of Energy Transfer during the 4th quarter worth $37,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Shares of NYSE:ET opened at $20.41 on Friday. The business has a 50-day moving average of $19.54 and a two-hundred day moving average of $18.96. The firm has a market capitalization of $70.23 billion, a PE ratio of 17.01, a P/E/G ratio of 1.18 and a beta of 0.55. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $20.70.

Energy Transfer (NYSE:ET) last released its quarterly earnings data 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). Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The firm had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. During the same period in the prior year, the firm earned $0.36 earnings per share. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. As a group, research analysts forecast that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a dividend of $0.3375 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date was Friday, May 8th. Energy Transfer’s payout ratio is presently 112.50%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ET. Royal Bank Of Canada restated an “outperform” rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a report on Tuesday. UBS Group reissued a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Citigroup restated a “buy” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $23.50.

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.