AMI Investment Management Inc. Invests $152,000 in Energy Transfer LP (NYSE:ET)

AMI Investment Management Inc. purchased a new position in shares of Energy Transfer LP (NYSE:ET) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,997 shares of the pipeline company’s stock, valued at approximately $152,000.

A number of other hedge funds also recently modified their holdings of ET. Veracity Capital LLC increased its position in shares of Energy Transfer by 2.4% during the 3rd quarter. Veracity Capital LLC now owns 31,465 shares of the pipeline company’s stock worth $441,000 after purchasing an additional 745 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in shares of Energy Transfer by 2.1% during the 4th quarter. Cornerstone Wealth Management LLC now owns 37,195 shares of the pipeline company’s stock worth $513,000 after acquiring an additional 776 shares during the last quarter. Morton Capital Management LLC CA increased its holdings in shares of Energy Transfer by 1.9% during the 4th quarter. Morton Capital Management LLC CA now owns 42,927 shares of the pipeline company’s stock worth $592,000 after acquiring an additional 785 shares during the last quarter. Global Trust Asset Management LLC increased its holdings in shares of Energy Transfer by 22.9% during the 4th quarter. Global Trust Asset Management LLC now owns 4,300 shares of the pipeline company’s stock worth $59,000 after acquiring an additional 800 shares during the last quarter. Finally, SageView Advisory Group LLC increased its holdings in shares of Energy Transfer by 3.1% during the 2nd quarter. SageView Advisory Group LLC now owns 27,336 shares of the pipeline company’s stock worth $347,000 after acquiring an additional 819 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 stock opened at $15.71 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a twelve month low of $12.06 and a twelve month high of $15.81. The company has a market cap of $52.92 billion, a P/E ratio of 14.41 and a beta of 1.64. The business has a fifty day simple moving average of $14.68 and a 200 day simple moving average of $14.03.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.08. The business 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 revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS. On average, sell-side analysts forecast that Energy Transfer LP will post 1.44 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Wednesday, February 7th were issued a $0.315 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $1.26 annualized dividend and a yield of 8.02%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. Energy Transfer’s dividend payout ratio is presently 115.60%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ET shares. Citigroup boosted their price target on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. UBS Group cut their target price on Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. 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.