MidWestOne Financial Group Inc. Has $1.33 Million Stake in Energy Transfer LP (NYSE:ET)

MidWestOne Financial Group Inc. lowered its position in Energy Transfer LP (NYSE:ET) by 14.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,939 shares of the pipeline company’s stock after selling 11,658 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Energy Transfer were worth $1,331,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC lifted its stake in Energy Transfer by 64.6% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 58,293 shares of the pipeline company’s stock valued at $1,142,000 after acquiring an additional 22,877 shares during the last quarter. Ashford Capital Management Inc. lifted its stake in Energy Transfer by 1.8% in the fourth quarter. Ashford Capital Management Inc. now owns 248,203 shares of the pipeline company’s stock valued at $4,862,000 after acquiring an additional 4,500 shares during the last quarter. Talisman Wealth Advisors LLC acquired a new stake in Energy Transfer in the fourth quarter valued at $237,000. Waverly Advisors LLC lifted its stake in Energy Transfer by 56.4% in the fourth quarter. Waverly Advisors LLC now owns 383,164 shares of the pipeline company’s stock valued at $7,506,000 after acquiring an additional 138,231 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new stake in Energy Transfer in the fourth quarter valued at $79,113,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

ET stock opened at $18.12 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The firm has a market cap of $62.17 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.64 and a beta of 0.77. The company’s 50-day moving average price is $17.47 and its two-hundred day moving average price is $18.58.

Energy Transfer (NYSE:ET) last released its earnings results on Tuesday, May 6th. The pipeline company reported $0.36 EPS for the quarter, beating 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 firm had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same period last year, the firm earned $0.32 EPS. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were issued a $0.3275 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 7.23%. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer’s dividend payout ratio (DPR) is currently 99.24%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citigroup reiterated a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Morgan Stanley increased their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. Wells Fargo & Company dropped their price objective 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. JPMorgan Chase & Co. dropped their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Stifel Nicolaus increased their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $22.64.

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.