Farmers & Merchants Investments Inc. Raises Position in Energy Transfer LP (NYSE:ET)

Farmers & Merchants Investments Inc. lifted its stake in shares of Energy Transfer LP (NYSE:ET) by 19.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,646 shares of the pipeline company’s stock after buying an additional 4,000 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Energy Transfer were worth $396,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Cutter & CO Brokerage Inc. raised its holdings in shares of Energy Transfer by 8.6% during the third quarter. Cutter & CO Brokerage Inc. now owns 474,050 shares of the pipeline company’s stock worth $7,609,000 after purchasing an additional 37,373 shares during the period. MONECO Advisors LLC grew its stake in Energy Transfer by 3.9% during the 3rd quarter. MONECO Advisors LLC now owns 39,947 shares of the pipeline company’s stock worth $641,000 after buying an additional 1,482 shares during the last quarter. Diversify Advisory Services LLC lifted its position in Energy Transfer by 6.1% in the 3rd quarter. Diversify Advisory Services LLC now owns 906,789 shares of the pipeline company’s stock valued at $14,853,000 after purchasing an additional 51,785 shares during the last quarter. Integrated Advisors Network LLC grew its holdings in Energy Transfer by 162.8% in the 3rd quarter. Integrated Advisors Network LLC now owns 98,146 shares of the pipeline company’s stock worth $1,575,000 after buying an additional 60,805 shares in the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in Energy Transfer during the 3rd quarter valued at $197,000. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target on the stock. UBS Group lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $20.00.

Energy Transfer Trading Down 0.2 %

NYSE:ET opened at $16.38 on Wednesday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. The company has a market capitalization of $55.18 billion, a P/E ratio of 15.02, a P/E/G ratio of 0.49 and a beta of 1.66. The stock’s 50 day moving average price is $16.17 and its 200 day moving average price is $15.98. Energy Transfer LP has a 52 week low of $12.90 and a 52 week high of $16.64.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. During the same quarter last year, the business earned $0.25 earnings per share. Energy Transfer’s quarterly revenue was up 13.1% on a year-over-year basis. On average, research analysts forecast that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently announced a dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be given a dividend of $0.3225 per share. The ex-dividend date is Friday, November 8th. Energy Transfer’s dividend payout ratio is 117.43%.

Insider Buying and Selling at Energy Transfer

In related news, CEO Thomas E. Long purchased 20,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Thomas E. Long acquired 20,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the acquisition, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kelcy L. Warren bought 3,000,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 3,040,000 shares of company stock worth $47,667,200 over the last ninety days. Company insiders own 3.28% of the company’s stock.

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.