Grimes & Company Inc. Increases Stake in Energy Transfer LP (NYSE:ET)

Grimes & Company Inc. grew its stake in Energy Transfer LP (NYSE:ET) by 8.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,507 shares of the pipeline company’s stock after purchasing an additional 1,033 shares during the period. Grimes & Company Inc.’s holdings in Energy Transfer were worth $265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Princeton Global Asset Management LLC raised its holdings in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. increased its position in shares of Energy Transfer by 2,138.5% in the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after buying an additional 1,668 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Energy Transfer during the 4th quarter valued at approximately $29,000. HWG Holdings LP purchased a new position in shares of Energy Transfer during the 2nd quarter valued at approximately $33,000. Finally, Sugarloaf Wealth Management LLC increased its holdings in Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after acquiring an additional 750 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Wells Fargo & Company raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group boosted their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada raised their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Trading Down 0.6 %

Shares of ET opened at $20.93 on Monday. Energy Transfer LP has a 12-month low of $13.79 and a 12-month high of $21.45. The firm has a market capitalization of $71.68 billion, a P/E ratio of 15.39, a P/E/G ratio of 0.55 and a beta of 1.70. The firm has a 50-day moving average price of $19.39 and a 200 day moving average price of $17.35. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. During the same quarter in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts forecast that Energy Transfer LP will post 1.37 EPS for the current year.

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.