Energy Transfer LP (NYSE:ET) Position Increased by Berkley W R Corp

Berkley W R Corp lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 18.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,334,494 shares of the pipeline company’s stock after acquiring an additional 1,000,000 shares during the quarter. Energy Transfer accounts for about 4.3% of Berkley W R Corp’s investment portfolio, making the stock its 3rd biggest position. Berkley W R Corp owned approximately 0.19% of Energy Transfer worth $102,745,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. LRI Investments LLC bought a new position in Energy Transfer during the first quarter worth $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Energy Transfer in the 4th quarter valued at about $34,000. Adirondack Trust Co. bought a new stake in shares of Energy Transfer during the 4th quarter valued at about $42,000. EdgeRock Capital LLC acquired a new stake in Energy Transfer during the second quarter worth about $42,000. Finally, Hudson Edge Investment Partners Inc. bought a new position in Energy Transfer in the second quarter worth about $42,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ET shares. Mizuho increased their price target on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. UBS Group increased their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Morgan Stanley raised their target price 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, JPMorgan Chase & Co. upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.14.

Insider Activity

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

Energy Transfer Trading Up 0.4 %

Shares of ET stock opened at $16.27 on Tuesday. Energy Transfer LP has a 1 year low of $12.90 and a 1 year high of $16.50. The firm has a market capitalization of $54.83 billion, a PE ratio of 14.93, a price-to-earnings-growth ratio of 0.46 and a beta of 1.66. The stock has a fifty day moving average of $16.05 and a two-hundred day moving average of $15.84. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14.

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

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were paid a $0.32 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.87%. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s dividend payout ratio is currently 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.