AMI Investment Management Inc. Buys New Position in Energy Transfer LP (NYSE:ET)

AMI Investment Management Inc. bought a new stake in Energy Transfer LP (NYSE:ET) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,997 shares of the pipeline company’s stock, valued at approximately $152,000.

Several other institutional investors have also recently made changes to their positions in ET. Bank of New York Mellon Corp increased its position in shares of Energy Transfer by 4.6% during the 1st quarter. Bank of New York Mellon Corp now owns 79,889 shares of the pipeline company’s stock worth $894,000 after purchasing an additional 3,501 shares during the last quarter. Cibc World Market Inc. increased its holdings in shares of Energy Transfer by 0.6% during the 1st quarter. Cibc World Market Inc. now owns 424,932 shares of the pipeline company’s stock worth $4,755,000 after acquiring an additional 2,403 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Energy Transfer by 13.7% during the 1st quarter. Blair William & Co. IL now owns 260,824 shares of the pipeline company’s stock worth $2,919,000 after acquiring an additional 31,407 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Energy Transfer by 7.3% during the 1st quarter. Cetera Investment Advisers now owns 159,249 shares of the pipeline company’s stock worth $1,782,000 after acquiring an additional 10,856 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Energy Transfer by 43.0% during the 1st quarter. NewEdge Advisors LLC now owns 192,394 shares of the pipeline company’s stock worth $2,153,000 after acquiring an additional 57,880 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of ET opened at $15.71 on Friday. Energy Transfer LP has a 12-month low of $12.06 and a 12-month high of $15.81. The business has a 50-day simple moving average of $14.68 and a two-hundred day simple moving average of $14.03. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. The stock has a market cap of $52.92 billion, a PE ratio of 14.41 and a beta of 1.64.

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

Energy Transfer Increases Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ET shares. UBS Group reduced their price target on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Citigroup upped their target price on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $17.57.

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.