Acadian Asset Management LLC Has $2.78 Million Holdings in Energy Transfer LP $ET

Acadian Asset Management LLC cut its position in Energy Transfer LP (NYSE:ET) by 48.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,763 shares of the pipeline company’s stock after selling 142,518 shares during the quarter. Acadian Asset Management LLC’s holdings in Energy Transfer were worth $2,784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Alps Advisors Inc. raised its holdings in Energy Transfer by 12.9% in the 1st quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company’s stock valued at $1,400,831,000 after acquiring an additional 8,613,645 shares in the last quarter. Commerce Bank acquired a new position in Energy Transfer during the 1st quarter worth $92,607,000. Zurich Insurance Group Ltd FI bought a new position in Energy Transfer in the fourth quarter valued at about $79,113,000. Westwood Holdings Group Inc. boosted its stake in shares of Energy Transfer by 18.2% in the 4th quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company’s stock valued at $319,929,000 after purchasing an additional 2,512,060 shares during the last quarter. Finally, Toronto Dominion Bank bought a new stake in shares of Energy Transfer during the 4th quarter valued at $48,426,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.5%

Shares of Energy Transfer stock opened at $17.53 on Tuesday. The stock has a market cap of $60.17 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 0.99 and a beta of 0.85. The firm’s 50-day moving average is $17.55 and its two-hundred day moving average is $17.63. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $19.24 billion during the quarter, compared to analyst estimates of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 earnings per share. As a group, research analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 7.5%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer’s dividend payout ratio is 102.33%.

Insiders Place Their Bets

In related news, Director Kelcy L. Warren acquired 1,350,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The stock was acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the acquisition, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.28% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ET shares. Mizuho lifted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 20th. Scotiabank started coverage on shares of Energy Transfer in a research report on Tuesday, September 2nd. They issued a “sector outperform” rating and a $23.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Wells Fargo & Company reiterated an “overweight” rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Finally, Morgan Stanley reduced their price target on Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Tuesday, August 26th. Thirteen analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.54.

About Energy Transfer

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.