M.E. Allison & CO. Inc. Acquires 5,000 Shares of Energy Transfer LP (NYSE:ET)

M.E. Allison & CO. Inc. increased its position in shares of Energy Transfer LP (NYSE:ET) by 32.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,192 shares of the pipeline company’s stock after purchasing an additional 5,000 shares during the period. M.E. Allison & CO. Inc.’s holdings in Energy Transfer were worth $375,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in Energy Transfer by 12,090.8% in the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company’s stock worth $244,005,000 after purchasing an additional 12,353,441 shares during the period. FMR LLC raised its position in Energy Transfer by 15.7% in the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company’s stock worth $756,840,000 after purchasing an additional 5,254,721 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in Energy Transfer in the 4th quarter worth about $79,113,000. Hsbc Holdings PLC purchased a new stake in Energy Transfer in the 4th quarter worth about $50,166,000. Finally, Westwood Holdings Group Inc. raised its position in Energy Transfer by 18.2% in the 4th quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company’s stock worth $319,929,000 after purchasing an additional 2,512,060 shares during the period. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ET has been the topic of a number of research reports. Mizuho raised their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 20th. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Morgan Stanley raised their target price on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 25th. Wells Fargo & Company reduced their target price on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.64.

Energy Transfer Trading Down 0.8%

NYSE:ET opened at $18.30 on Monday. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The firm has a fifty day simple moving average of $17.33 and a 200-day simple moving average of $18.58. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $62.78 billion, a P/E ratio of 14.29, a PEG ratio of 0.64 and a beta of 0.78.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. The business had revenue of $21.02 billion during the quarter, compared to the consensus estimate of $22.28 billion. During the same period in the previous year, the firm posted $0.32 earnings per share. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were paid a dividend of $0.3275 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a dividend yield of 7.16%. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer’s payout ratio is presently 99.24%.

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.