National Bank of Canada FI Has $473,000 Stake in Energy Transfer LP (NYSE:ET)

National Bank of Canada FI lifted its position in shares of Energy Transfer LP (NYSE:ET) by 5.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,942 shares of the pipeline company’s stock after purchasing an additional 1,500 shares during the quarter. National Bank of Canada FI’s holdings in Energy Transfer were worth $473,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. First Reserve GP XIII Ltd bought a new position in Energy Transfer in the 4th quarter valued at $322,097,000. Clearbridge Investments LLC grew its stake in Energy Transfer by 18.5% in the 4th quarter. Clearbridge Investments LLC now owns 25,423,547 shares of the pipeline company’s stock valued at $350,845,000 after purchasing an additional 3,976,676 shares during the period. UBS Group AG grew its stake in Energy Transfer by 13.3% in the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock valued at $395,270,000 after purchasing an additional 3,368,427 shares during the period. Natixis grew its stake in Energy Transfer by 20.0% in the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after purchasing an additional 2,999,300 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in Energy Transfer by 117.3% in the 4th quarter. Allianz Asset Management GmbH now owns 3,867,998 shares of the pipeline company’s stock valued at $53,378,000 after purchasing an additional 2,088,356 shares during the period. 38.22% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Gregory G. Mcilwain acquired 20,000 shares of Energy Transfer stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Kelcy L. Warren acquired 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the transaction, the director now directly owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gregory G. Mcilwain acquired 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. The disclosure for this purchase can be found here. Insiders have bought 3,040,000 shares of company stock worth $47,667,200 in the last ninety days. 3.28% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ET has been the subject of several research reports. Mizuho increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Morgan Stanley increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Finally, 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 research note on Thursday, June 20th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.29.

Energy Transfer Price Performance

Shares of Energy Transfer stock opened at $16.17 on Friday. The stock has a 50 day moving average of $16.06 and a 200 day moving average of $15.77. Energy Transfer LP has a 12 month low of $12.90 and a 12 month high of $16.50. The firm has a market cap of $55.34 billion, a PE ratio of 14.83, a PEG ratio of 0.46 and a beta of 1.66. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. During the same period in the previous year, the business earned $0.25 earnings per share. Energy Transfer’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, research analysts expect that Energy Transfer LP will post 1.4 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a dividend of $0.32 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a yield of 7.92%. The ex-dividend date was Friday, August 9th. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

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.