Energy Transfer LP $ET Stock Holdings Raised by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its stake in Energy Transfer LP (NYSE:ET) by 1.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,979,123 shares of the pipeline company’s stock after purchasing an additional 51,687 shares during the period. Energy Transfer accounts for approximately 1.0% of Maryland State Retirement & Pension System’s holdings, making the stock its 16th biggest holding. Maryland State Retirement & Pension System owned 0.09% of Energy Transfer worth $49,126,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Morgan Stanley increased its position in shares of Energy Transfer by 41.6% in the 4th quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock worth $1,423,256,000 after purchasing an additional 25,366,594 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Energy Transfer by 8.0% in the 4th quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock worth $1,382,573,000 after purchasing an additional 6,192,066 shares during the last quarter. Invesco Ltd. increased its position in shares of Energy Transfer by 3.2% in the 3rd quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock worth $992,923,000 after purchasing an additional 1,773,042 shares during the last quarter. Energy Income Partners LLC increased its position in shares of Energy Transfer by 1.4% in the 3rd quarter. Energy Income Partners LLC now owns 23,351,183 shares of the pipeline company’s stock worth $400,706,000 after purchasing an additional 326,653 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Energy Transfer by 2.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,898,420 shares of the pipeline company’s stock worth $375,777,000 after purchasing an additional 544,944 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Trading Down 0.2%

Energy Transfer stock opened at $18.87 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The firm has a 50-day moving average price of $19.44 and a two-hundred day moving average price of $18.38. The firm has a market capitalization of $64.92 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.10 and a beta of 0.55. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $20.70.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 4.66% and a return on equity of 9.77%. The company’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 earnings per share. Sell-side analysts expect that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced 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 represents a $1.35 dividend on an annualized basis and a yield of 7.2%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio (DPR) is presently 112.50%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ET. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a report on Tuesday, May 12th. Stifel Nicolaus lifted their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Jefferies Financial Group raised shares of Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Tuesday, May 26th. Wells Fargo & Company lifted their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, March 13th. Finally, Truist Financial began coverage on shares of Energy Transfer in a report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $23.45.

Energy Transfer 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.