Berkley W R Corp Acquires 555,445 Shares of Energy Transfer LP (NYSE:ET)

Berkley W R Corp grew its stake in shares of Energy Transfer LP (NYSE:ET) by 11.6% in the first quarter, Holdings Channel.com reports. The fund owned 5,334,494 shares of the pipeline company’s stock after buying an additional 555,445 shares during the quarter. Energy Transfer comprises about 4.7% of Berkley W R Corp’s holdings, making the stock its 3rd biggest position. Berkley W R Corp’s holdings in Energy Transfer were worth $83,912,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Northwest Financial Advisors purchased a new stake in Energy Transfer during the fourth quarter valued at about $25,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $33,000. Harbor Investment Advisory LLC lifted its position in shares of Energy Transfer by 42.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 750 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $34,000. Finally, EdgeRock Capital LLC acquired a new position in Energy Transfer in the 4th quarter worth approximately $37,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Down 1.5 %

Shares of NYSE:ET traded down $0.25 on Monday, reaching $16.02. The company had a trading volume of 19,377,552 shares, compared to its average volume of 12,754,521. The stock has a market capitalization of $53.99 billion, a P/E ratio of 14.70, a P/E/G ratio of 0.43 and a beta of 1.66. The stock has a 50-day moving average price of $15.88 and a 200 day moving average price of $15.38. Energy Transfer LP has a twelve month low of $12.46 and a twelve month high of $16.50. The company has a quick ratio of 1.00, a current ratio of 1.18 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The company had revenue of $21.63 billion during the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The firm’s revenue was up 13.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. On average, equities analysts expect that Energy Transfer LP will post 1.47 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 9th will be issued a dividend of $0.32 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a dividend yield of 7.99%. The ex-dividend date is Friday, August 9th. Energy Transfer’s dividend payout ratio is currently 116.51%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ET. UBS Group increased their price target on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Mizuho lifted their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Morgan Stanley lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. JPMorgan Chase & Co. upped their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Finally, Stifel Nicolaus boosted their price target on Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.29.

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.