M.E. Allison & CO. Inc. Takes Position in Energy Transfer LP (NYSE:ET)

M.E. Allison & CO. Inc. purchased a new stake in Energy Transfer LP (NYSE:ET) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 15,192 shares of the pipeline company’s stock, valued at approximately $298,000.

A number of other institutional investors have also recently made changes to their positions in ET. Hsbc Holdings PLC bought a new position in shares of Energy Transfer in the second quarter worth about $290,000. Ieq Capital LLC grew its stake in Energy Transfer by 8.0% in the 2nd quarter. Ieq Capital LLC now owns 197,856 shares of the pipeline company’s stock valued at $3,209,000 after acquiring an additional 14,728 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in Energy Transfer by 31.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,140 shares of the pipeline company’s stock valued at $132,000 after purchasing an additional 1,963 shares in the last quarter. AE Wealth Management LLC grew its position in shares of Energy Transfer by 22.6% in the second quarter. AE Wealth Management LLC now owns 89,232 shares of the pipeline company’s stock valued at $1,447,000 after purchasing an additional 16,445 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Energy Transfer by 77.4% during the second quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock worth $747,000 after purchasing an additional 20,093 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ET has been the topic of several research reports. Wells Fargo & Company raised their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Barclays lifted their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Bank of America started coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. The Goldman Sachs Group increased their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada upped their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Trading Up 0.2 %

Shares of ET stock opened at $20.28 on Monday. The firm has a market capitalization of $69.45 billion, a PE ratio of 14.91, a P/E/G ratio of 0.57 and a beta of 1.70. Energy Transfer LP has a 1-year low of $13.60 and a 1-year high of $20.40. The business’s fifty day moving average price is $19.02 and its 200 day moving average price is $17.19. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter last year, the business posted $0.31 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.36%. Energy Transfer’s payout ratio is 94.85%.

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.