Jennison Associates LLC Acquires 218,646 Shares of Energy Transfer LP $ET

Jennison Associates LLC boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 13.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,802,685 shares of the pipeline company’s stock after acquiring an additional 218,646 shares during the quarter. Jennison Associates LLC’s holdings in Energy Transfer were worth $34,467,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Texas Yale Capital Corp. lifted its stake in shares of Energy Transfer by 6.1% during the 4th quarter. Texas Yale Capital Corp. now owns 1,311,965 shares of the pipeline company’s stock worth $21,634,000 after purchasing an additional 75,700 shares during the last quarter. North Star Investment Management Corp. grew its stake in Energy Transfer by 100.1% in the fourth quarter. North Star Investment Management Corp. now owns 161,523 shares of the pipeline company’s stock valued at $2,664,000 after purchasing an additional 80,786 shares during the last quarter. Summit Securities Group LLC grew its stake in Energy Transfer by 179.0% in the first quarter. Summit Securities Group LLC now owns 162,100 shares of the pipeline company’s stock valued at $3,129,000 after purchasing an additional 104,000 shares during the last quarter. Mizuho Markets Americas LLC bought a new position in Energy Transfer in the first quarter worth about $61,760,000. Finally, Sanctuary Advisors LLC raised its holdings in Energy Transfer by 15.8% in the first quarter. Sanctuary Advisors LLC now owns 1,888,661 shares of the pipeline company’s stock worth $36,451,000 after purchasing an additional 257,954 shares in the last quarter. Institutional investors own 38.22% of the company’s stock.

Insider Activity at Energy Transfer

In related news, Director James Richard Perry acquired 12,359 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of $20.23 per share, with a total value of $250,022.57. Following the transaction, the director directly owned 208,046 shares of the company’s stock, valued at $4,208,770.58. This trade represents a 6.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.28% of the stock is owned by insiders.

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

Energy Transfer Trading Up 1.3%

Shares of NYSE:ET opened at $21.02 on Friday. The business’s 50-day moving average is $19.76 and its 200 day moving average is $19.32. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $21.11. The firm has a market capitalization of $72.39 billion, a P/E ratio of 14.30, a P/E/G ratio of 1.97 and a beta of 0.55. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 0.94.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, August 4th. The pipeline company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.21. The company had revenue of $34.33 billion during the quarter, compared to analysts’ expectations of $27.71 billion. Energy Transfer had a return on equity of 11.55% and a net margin of 4.87%.The firm’s revenue was up 78.4% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. On average, research analysts predict that Energy Transfer LP will post 1.57 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 19th. Investors of record on Friday, August 7th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Friday, August 7th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is 92.52%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ET. Royal Bank Of Canada restated an “outperform” rating and issued a $23.00 price target (up from $21.00) on shares of Energy Transfer in a report on Tuesday, July 21st. Truist Financial boosted their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group reiterated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Finally, TD Cowen restated a “buy” rating and issued a $25.00 target price (up from $24.00) on shares of Energy Transfer in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, 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.