Jennison Associates LLC increased its position in shares of Energy Transfer LP (NYSE:ET – Free Report) by 13.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,802,685 shares of the pipeline company’s stock after purchasing an additional 218,646 shares during the period. Jennison Associates LLC owned approximately 0.05% of Energy Transfer worth $34,467,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in ET. Keybank National Association OH lifted its stake in Energy Transfer by 0.3% in the first quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock worth $4,231,000 after purchasing an additional 556 shares during the last quarter. Mountain Capital Investment Advisors Inc. grew its stake in shares of Energy Transfer by 4.9% during the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock valued at $216,000 after buying an additional 560 shares during the last quarter. Marks Wealth LLC raised its holdings in shares of Energy Transfer by 4.7% in the fourth quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock worth $207,000 after buying an additional 560 shares during the period. Citizens Financial Group Inc. RI raised its holdings in shares of Energy Transfer by 2.4% in the first quarter. Citizens Financial Group Inc. RI now owns 23,978 shares of the pipeline company’s stock worth $463,000 after buying an additional 562 shares during the period. Finally, Avos Capital Management LLC lifted its stake in shares of Energy Transfer by 0.8% during the 4th quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock worth $1,265,000 after acquiring an additional 583 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.
Energy Transfer Stock Performance
Energy Transfer stock opened at $21.02 on Friday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.94 and a current ratio of 1.16. The company has a market capitalization of $72.39 billion, a PE ratio of 14.30, a P/E/G ratio of 1.97 and a beta of 0.55. The company has a 50 day moving average price of $19.76 and a 200-day moving average price of $19.32. Energy Transfer LP has a fifty-two week low of $16.18 and a fifty-two week high of $21.11.
Energy Transfer Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 19th. Stockholders of record on Friday, August 7th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend is Friday, August 7th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is currently 92.52%.
Insider Activity
In other news, Director James Richard Perry purchased 12,359 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $20.23 per share, for a total transaction of $250,022.57. Following the completion of the purchase, the director owned 208,046 shares in the company, valued at approximately $4,208,770.58. This represents a 6.32% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.28% of the company’s stock.
Trending Headlines about Energy Transfer
Here are the key news stories impacting Energy Transfer this week:
- Positive Sentiment: Income appeal remains a key support. An investor analysis argues that Energy Transfer’s distribution yield, now near 6.5%, remains attractive and that the payout appears dependable, reinforcing ET’s appeal as a high-income midstream investment. Energy Transfer’s Yield Just Climbed Near 6.5%. Here’s Why I’m Not Worried About the Payout.
- Positive Sentiment: AI-related power demand could create growth opportunities. Alpha Wealth Funds highlighted ET’s positioning to benefit from the expected surge in electricity consumption from artificial-intelligence infrastructure, potentially increasing demand for natural gas and related energy services. Energy Transfer Positions to Capitalize on the AI Power Surge
- Positive Sentiment: Analyst and insider signals are favorable. Truist Financial forecast strong potential price appreciation, while separate coverage said ET shares benefited from insider buying activity. These signals may strengthen investor confidence, although they do not guarantee future performance. Truist Financial Forecasts Strong Price Appreciation for Energy Transfer Stock Energy Transfer Stock Price Up on Insider Buying Activity
- Neutral Sentiment: Natural-gas prices moved higher. Warmer-weather forecasts helped lift natural-gas prices, which could improve industry sentiment. However, ET’s diversified, largely fee-based midstream model may limit the direct effect of commodity-price changes. Nat-Gas Prices Close Higher on Warm Forecasts
- Negative Sentiment: Zacks downgraded ET from “strong buy” to “hold.” The rating change is a modest headwind and may encourage some investors to take profits after the stock’s recent momentum. Zacks.com
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on ET. Jefferies Financial Group restated a “buy” rating on shares of Energy Transfer in a report on Wednesday, August 5th. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, July 21st. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Finally, Barclays restated an “overweight” rating and issued a $24.00 price target (up from $23.00) on shares of Energy Transfer in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.92.
About Energy Transfer
Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.
Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.
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