Delphi Financial Group Inc. Has $49.80 Million Stock Position in Energy Transfer LP (NYSE:ET)

Delphi Financial Group Inc. lessened its stake in shares of Energy Transfer LP (NYSE:ET) by 21.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,166,026 shares of the pipeline company’s stock after selling 872,036 shares during the quarter. Energy Transfer accounts for about 32.2% of Delphi Financial Group Inc.’s investment portfolio, making the stock its largest position. Delphi Financial Group Inc. owned 0.09% of Energy Transfer worth $49,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of ET. Tower Research Capital LLC TRC raised its position in Energy Transfer by 6,759.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 26,820 shares of the pipeline company’s stock valued at $376,000 after purchasing an additional 26,429 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Energy Transfer by 8.3% in the 3rd quarter. Lazard Asset Management LLC now owns 43,147 shares of the pipeline company’s stock valued at $605,000 after buying an additional 3,318 shares during the period. Royal Bank of Canada increased its stake in shares of Energy Transfer by 15.6% in the 3rd quarter. Royal Bank of Canada now owns 3,660,509 shares of the pipeline company’s stock valued at $51,359,000 after buying an additional 494,348 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of Energy Transfer by 2.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 297,077 shares of the pipeline company’s stock valued at $4,168,000 after buying an additional 7,947 shares during the period. Finally, Essex Financial Services Inc. increased its stake in shares of Energy Transfer by 14.3% in the 3rd quarter. Essex Financial Services Inc. now owns 31,328 shares of the pipeline company’s stock valued at $440,000 after buying an additional 3,923 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Up 0.1 %

ET traded up $0.02 on Tuesday, hitting $16.11. 12,438,356 shares of the company were exchanged, compared to its average volume of 11,790,497. Energy Transfer LP has a 12 month low of $12.46 and a 12 month high of $16.48. The company has a market cap of $54.29 billion, a PE ratio of 14.78, a PEG ratio of 0.44 and a beta of 1.66. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The stock’s fifty day moving average is $15.79 and its 200-day moving average is $15.14.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). The business 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%. Energy Transfer’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. Equities research analysts predict that Energy Transfer LP will post 1.45 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were given a $0.317 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 10th. This represents a $1.27 annualized dividend and a dividend yield of 7.87%. Energy Transfer’s dividend payout ratio is presently 116.51%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ET shares. UBS Group lifted their target price on Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Stifel Nicolaus lifted their price objective on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. Mizuho lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. JPMorgan Chase & Co. lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Finally, Morgan Stanley lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

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.