TIAA Trust National Association Boosts Stake in Energy Transfer LP (NYSE:ET)

TIAA Trust National Association grew its holdings in Energy Transfer LP (NYSE:ET) by 6.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,462 shares of the pipeline company’s stock after acquiring an additional 1,000 shares during the period. TIAA Trust National Association’s holdings in Energy Transfer were worth $251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ET. First Reserve GP XIII Ltd purchased a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $322,097,000. Clearbridge Investments LLC grew its holdings in Energy Transfer by 18.5% during 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 in the last quarter. UBS Group AG increased its stake in Energy Transfer by 13.3% during the 4th quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after buying an additional 3,368,427 shares during the period. Natixis lifted its holdings in Energy Transfer by 20.0% in the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after buying an additional 2,999,300 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings 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 worth $53,378,000 after buying an additional 2,088,356 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Ratings Changes

ET has been the topic of several analyst reports. Mizuho lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Morgan Stanley increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Monday, June 10th. Finally, UBS Group boosted their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.29.

Insider Buying and Selling at Energy Transfer

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

Energy Transfer Stock Down 0.7 %

NYSE:ET opened at $15.90 on Friday. 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 stock has a 50 day moving average of $16.10 and a 200-day moving average of $15.73. The firm has a market capitalization of $53.58 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 0.47 and a beta of 1.66. Energy Transfer LP has a 52 week low of $12.90 and a 52 week high of $16.50.

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

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.32 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.28 annualized dividend and a yield of 8.05%. Energy Transfer’s payout ratio is 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.