MIdWestOne Financial Group Inc. Sells 30,092 Shares of Energy Transfer LP $ET

MIdWestOne Financial Group Inc. reduced its holdings in shares of Energy Transfer LP (NYSE:ET) by 16.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 151,541 shares of the pipeline company’s stock after selling 30,092 shares during the quarter. MIdWestOne Financial Group Inc.’s holdings in Energy Transfer were worth $2,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ET. Brighton Jones LLC lifted its holdings in shares of Energy Transfer by 93.4% during the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after purchasing an additional 11,844 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Energy Transfer by 62.8% in the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock valued at $391,000 after acquiring an additional 8,118 shares during the period. Geode Capital Management LLC lifted its holdings in Energy Transfer by 6.2% in the second quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock valued at $2,455,000 after acquiring an additional 7,901 shares during the period. Russell Investments Group Ltd. lifted its holdings in Energy Transfer by 436.5% in the second quarter. Russell Investments Group Ltd. now owns 4,179 shares of the pipeline company’s stock valued at $76,000 after acquiring an additional 3,400 shares during the period. Finally, Guggenheim Capital LLC lifted its holdings in Energy Transfer by 5.6% in the second quarter. Guggenheim Capital LLC now owns 50,919 shares of the pipeline company’s stock valued at $923,000 after acquiring an additional 2,700 shares during the period. 38.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on ET. Wells Fargo & Company increased their target price on Energy Transfer from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, March 13th. Citigroup reissued a “buy” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. TD Cowen reissued a “buy” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Wednesday, May 13th. Raymond James Financial reissued a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. Finally, Stifel Nicolaus increased their target price on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $23.45.

Energy Transfer Stock Performance

Shares of ET opened at $18.80 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The business has a 50-day simple moving average of $19.44 and a two-hundred day simple moving average of $18.33. The stock has a market cap of $64.70 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 1.10 and a beta of 0.55. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $20.70.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. During the same quarter in the prior year, the business posted $0.36 EPS. The business’s revenue for the quarter was up 32.1% compared to the same quarter last year. On average, analysts expect that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a dividend of $0.3375 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a yield of 7.2%. Energy Transfer’s dividend payout ratio is currently 112.50%.

Energy Transfer Profile

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.