MidWestOne Financial Group Inc. Has $1.14 Million Stock Holdings in Energy Transfer LP (NYSE:ET)

MidWestOne Financial Group Inc. trimmed its holdings in Energy Transfer LP (NYSE:ET) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,532 shares of the pipeline company’s stock after selling 1,005 shares during the period. MidWestOne Financial Group Inc.’s holdings in Energy Transfer were worth $1,144,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. LRI Investments LLC bought a new position in shares of Energy Transfer in the first quarter valued at $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Energy Transfer in the fourth quarter valued at $34,000. Hudson Edge Investment Partners Inc. bought a new position in shares of Energy Transfer in the second quarter valued at $42,000. EdgeRock Capital LLC bought a new position in shares of Energy Transfer in the second quarter valued at $42,000. Finally, Adirondack Trust Co. bought a new position in shares of Energy Transfer in the fourth quarter valued at $42,000. 38.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ET has been the topic of a number of recent research reports. UBS Group raised their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Mizuho raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Morgan Stanley raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Monday, June 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.14.

Insider Buying and Selling

In other Energy Transfer news, Director Kelcy L. Warren bought 3,000,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the purchase, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kelcy L. Warren bought 3,000,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 3,040,000 shares of company stock worth $47,667,200. Insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

NYSE ET opened at $16.07 on Friday. Energy Transfer LP has a 52-week low of $12.90 and a 52-week high of $16.50. The company has a 50-day simple moving average of $16.04 and a 200 day simple moving average of $15.86. 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 $54.16 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66.

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

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 7.97%. The ex-dividend date was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

Energy Transfer Company 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.