Natixis Advisors LLC Makes New Investment in Energy Transfer LP (NYSE:ET)

Natixis Advisors LLC acquired a new stake in shares of Energy Transfer LP (NYSE:ET) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 25,863 shares of the pipeline company’s stock, valued at approximately $419,000.

Several other institutional investors have also modified their holdings of ET. Aveo Capital Partners LLC increased its stake in Energy Transfer by 1.3% during the 4th quarter. Aveo Capital Partners LLC now owns 133,559 shares of the pipeline company’s stock worth $1,843,000 after buying an additional 1,663 shares in the last quarter. 9258 Wealth Management LLC acquired a new stake in shares of Energy Transfer in the fourth quarter valued at about $645,000. Principal Securities Inc. acquired a new position in shares of Energy Transfer during the 4th quarter worth approximately $326,000. Cary Street Partners Investment Advisory LLC boosted its stake in Energy Transfer by 201.9% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 14,356 shares of the pipeline company’s stock worth $198,000 after buying an additional 9,600 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Energy Transfer in the 4th quarter valued at $1,368,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Activity

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the purchase, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Gregory G. Mcilwain bought 20,000 shares of the stock in a transaction on Friday, August 23rd. The stock was bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the executive vice president now directly owns 591,211 shares in the company, valued at approximately $9,270,188.48. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 3,040,000 shares of company stock worth $47,667,200. 3.28% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ET shares. JPMorgan Chase & Co. upped their target price on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Morgan Stanley upped their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, Mizuho upped their price target on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Price Performance

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

Energy Transfer (NYSE:ET) last posted its earnings results 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 return on equity of 12.74% and a net margin of 5.19%. The firm had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same period in the previous year, the company posted $0.25 EPS. Energy Transfer’s revenue was up 13.1% on a year-over-year basis. As a group, sell-side analysts expect that Energy Transfer LP will post 1.4 earnings per share for the current year.

Energy Transfer Increases Dividend

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

Energy Transfer 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.