ST Germain D J Co. Inc. Makes New $59,000 Investment in Energy Transfer LP (NYSE:ET)

ST Germain D J Co. Inc. purchased a new stake in Energy Transfer LP (NYSE:ET) in the second quarter, HoldingsChannel reports. The firm purchased 3,614 shares of the pipeline company’s stock, valued at approximately $59,000.

Other institutional investors have also recently bought and sold shares of the company. UBS Group AG raised its position in shares of Energy Transfer by 13.3% during the fourth quarter. UBS Group AG now owns 28,642,769 shares of the pipeline company’s stock worth $395,270,000 after acquiring an additional 3,368,427 shares during the last quarter. Clearbridge Investments LLC lifted its position 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 during the period. First Reserve GP XIII Ltd bought a new position in shares of Energy Transfer in the 4th quarter valued at about $322,097,000. Natixis grew its position in shares of Energy Transfer by 20.0% during 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 during the period. Finally, Westwood Holdings Group Inc. raised its stake in shares of Energy Transfer by 6.9% during the fourth quarter. Westwood Holdings Group Inc. now owns 16,785,510 shares of the pipeline company’s stock worth $231,640,000 after buying an additional 1,085,240 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ET has been the topic of a number of recent research reports. Morgan Stanley raised 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. Stifel Nicolaus lifted their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. JPMorgan Chase & Co. upped their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Mizuho lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Finally, UBS Group upped their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Stock Up 3.6 %

Shares of ET stock traded up $0.55 during trading hours on Tuesday, hitting $15.98. 25,443,354 shares of the company were exchanged, compared to its average volume of 13,048,856. Energy Transfer LP has a 52 week low of $12.46 and a 52 week high of $16.50. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37. The business has a 50 day moving average of $15.92 and a two-hundred day moving average of $15.45. The company has a market capitalization of $53.85 billion, a PE ratio of 14.61, a PEG ratio of 0.42 and a beta of 1.66.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The firm had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. Energy Transfer’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the company posted $0.32 EPS. Analysts anticipate that Energy Transfer LP will post 1.49 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 9th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 8.01%. The ex-dividend date is Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 116.51%.

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.