Grimes & Company Inc. Grows Stock Position in Energy Transfer LP (NYSE:ET)

Grimes & Company Inc. increased its stake in Energy Transfer LP (NYSE:ET) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,507 shares of the pipeline company’s stock after buying an additional 1,033 shares during the quarter. Grimes & Company Inc.’s holdings in Energy Transfer were worth $265,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ET. GAMMA Investing LLC purchased a new position in Energy Transfer during the 4th quarter valued at $29,000. Princeton Global Asset Management LLC lifted its position in shares of Energy Transfer by 65.0% during the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares during the period. HWG Holdings LP bought a new position in shares of Energy Transfer in the second quarter worth about $33,000. Finally, Continuum Advisory LLC increased its stake in Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after buying an additional 729 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Down 0.6 %

NYSE:ET opened at $20.93 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a twelve month low of $13.79 and a twelve month high of $21.45. The company has a market cap of $71.68 billion, a PE ratio of 15.39, a P/E/G ratio of 0.55 and a beta of 1.70. The company’s 50 day moving average is $19.39 and its two-hundred day moving average is $17.35.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, meeting 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 for the quarter, compared to analyst estimates of $21.59 billion. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Energy Transfer’s revenue for the quarter was up .2% on a year-over-year basis. Analysts anticipate that Energy Transfer LP will post 1.37 EPS for the current year.

Analysts Set New Price Targets

ET has been the subject of several research reports. Barclays boosted their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group boosted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, December 19th. Wells Fargo & Company lifted 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. Bank of America began coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Royal Bank of Canada lifted their price objective on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.82.

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.