10,997 Shares in Energy Transfer LP (NYSE:ET) Acquired by AMI Investment Management Inc.

AMI Investment Management Inc. purchased a new stake in Energy Transfer LP (NYSE:ET) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 10,997 shares of the pipeline company’s stock, valued at approximately $152,000.

Other hedge funds also recently made changes to their positions in the company. Mutual Advisors LLC boosted its holdings in shares of Energy Transfer by 112.9% in the 4th quarter. Mutual Advisors LLC now owns 146,943 shares of the pipeline company’s stock valued at $2,028,000 after buying an additional 77,938 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Energy Transfer by 230.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 736,634 shares of the pipeline company’s stock worth $10,335,000 after acquiring an additional 513,989 shares during the period. Fractal Investments LLC raised its holdings in shares of Energy Transfer by 12.9% in the 3rd quarter. Fractal Investments LLC now owns 5,682,061 shares of the pipeline company’s stock worth $79,719,000 after purchasing an additional 647,885 shares in the last quarter. Cutter & CO Brokerage Inc. raised its holdings in shares of Energy Transfer by 22.5% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 421,372 shares of the pipeline company’s stock worth $5,912,000 after purchasing an additional 77,352 shares in the last quarter. Finally, Hodges Capital Management Inc. bought a new stake in shares of Energy Transfer in the 3rd quarter worth approximately $3,936,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ET shares. Citigroup boosted their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. UBS Group lowered their price objective on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Energy Transfer has a consensus rating of “Moderate Buy” and an average target price of $17.57.

Energy Transfer Price Performance

NYSE ET opened at $15.71 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The company has a fifty day simple moving average of $14.68 and a 200 day simple moving average of $14.03. The company has a market cap of $52.92 billion, a P/E ratio of 14.41 and a beta of 1.64. Energy Transfer LP has a 1 year low of $12.06 and a 1 year high of $15.81.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The business had revenue of $20.53 billion during the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the company posted $0.34 EPS. On average, sell-side analysts predict that Energy Transfer LP will post 1.44 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were issued a dividend of $0.315 per share. The ex-dividend date was Tuesday, February 6th. This represents a $1.26 dividend on an annualized basis and a yield of 8.02%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s dividend payout ratio is currently 115.60%.

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.