MidWestOne Financial Group Inc. Raises Stake in Energy Transfer LP $ET

MidWestOne Financial Group Inc. boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 41.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 181,633 shares of the pipeline company’s stock after buying an additional 53,595 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Energy Transfer were worth $3,117,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Alps Advisors Inc. grew its position in shares of Energy Transfer by 4.5% during the 3rd quarter. Alps Advisors Inc. now owns 77,651,021 shares of the pipeline company’s stock valued at $1,332,492,000 after acquiring an additional 3,366,734 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Energy Transfer by 9.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,353,476 shares of the pipeline company’s stock valued at $387,139,000 after purchasing an additional 1,825,391 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in Energy Transfer by 14.3% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 8,211,600 shares of the pipeline company’s stock worth $140,911,000 after buying an additional 1,029,000 shares during the last quarter. Eagle Global Advisors LLC increased its position in Energy Transfer by 6.0% in the third quarter. Eagle Global Advisors LLC now owns 6,466,059 shares of the pipeline company’s stock worth $110,958,000 after buying an additional 363,623 shares during the last quarter. Finally, Miller Howard Investments Inc. NY raised its stake in shares of Energy Transfer by 2.6% in the third quarter. Miller Howard Investments Inc. NY now owns 5,351,145 shares of the pipeline company’s stock valued at $91,826,000 after buying an additional 136,507 shares during the period. Institutional investors own 38.22% of the company’s stock.

Energy Transfer Stock Performance

Energy Transfer stock opened at $18.77 on Friday. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $20.51. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $64.43 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.94 and a beta of 0.66. The firm’s 50 day simple moving average is $17.21 and its 200 day simple moving average is $17.14.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Friday, February 6th will be paid a dividend of $0.335 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Friday, February 6th. Energy Transfer’s dividend payout ratio is 107.20%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Barclays reissued an “overweight” rating and issued a $22.00 price objective (down previously from $25.00) on shares of Energy Transfer in a report on Monday, January 12th. JPMorgan Chase & Co. cut their target price on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Monday, November 24th. Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Wednesday, January 7th. Finally, Jefferies Financial Group set a $17.00 price objective on shares of Energy Transfer and gave the company a “hold” rating in a research note on Tuesday, October 28th. Eleven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.36.

Insider Buying and Selling

In other Energy Transfer news, Director Kelcy L. Warren bought 1,000,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were acquired at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the purchase, the director directly owned 104,577,803 shares of the company’s stock, valued at $1,772,593,760.85. The trade was a 0.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.28% of the stock is currently owned by insiders.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.