MidWestOne Financial Group Inc. Acquires New Shares in Energy Transfer LP Unit (NYSE:ET)

MidWestOne Financial Group Inc. acquired a new stake in Energy Transfer LP Unit (NYSE:ET) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 90,037 shares of the pipeline company’s stock, valued at approximately $1,268,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ET. Security National Trust Co. purchased a new position in Energy Transfer LP Unit during the second quarter worth $169,000. Zimmer Partners LP grew its position in shares of Energy Transfer LP Unit by 11.0% in the second quarter. Zimmer Partners LP now owns 10,199,454 shares of the pipeline company’s stock valued at $143,608,000 after purchasing an additional 1,007,439 shares during the period. Green Square Asset Management LLC purchased a new stake in shares of Energy Transfer LP Unit in the second quarter valued at $282,000. Stonebridge Capital Advisors LLC purchased a new stake in shares of Energy Transfer LP Unit in the second quarter valued at $158,000. Finally, Kings Point Capital Management grew its position in shares of Energy Transfer LP Unit by 2.1% in the second quarter. Kings Point Capital Management now owns 400,262 shares of the pipeline company’s stock valued at $5,636,000 after purchasing an additional 8,260 shares during the period. 55.33% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently commented on ET shares. Evercore ISI set a $18.00 price objective on Energy Transfer LP Unit and gave the company a “buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Co lifted their price objective on Energy Transfer LP Unit from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Citigroup set a $20.00 price objective on Energy Transfer LP Unit and gave the company a “buy” rating in a research report on Monday, August 12th. ValuEngine downgraded Energy Transfer LP Unit from a “sell” rating to a “strong sell” rating in a research report on Friday, September 6th. Finally, Zacks Investment Research downgraded Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Energy Transfer LP Unit presently has an average rating of “Buy” and an average price target of $19.90.



Energy Transfer LP Unit stock traded down $0.10 during midday trading on Wednesday, reaching $13.17. The stock had a trading volume of 5,094,347 shares, compared to its average volume of 11,175,758. Energy Transfer LP Unit has a twelve month low of $11.68 and a twelve month high of $18.17. The stock has a market capitalization of $35.99 billion, a PE ratio of 11.45, a price-to-earnings-growth ratio of 0.59 and a beta of 1.51. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.83 and a current ratio of 1.12. The stock’s 50-day simple moving average is $13.56 and its 200 day simple moving average is $14.51.

Energy Transfer LP Unit (NYSE:ET) last issued its earnings results on Wednesday, August 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.03). Energy Transfer LP Unit had a net margin of 4.99% and a return on equity of 9.10%. The firm had revenue of $13.88 billion during the quarter, compared to analyst estimates of $14.49 billion. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. Equities analysts predict that Energy Transfer LP Unit will post 1.4 earnings per share for the current fiscal year.

About Energy Transfer LP Unit

Energy Transfer LP provides energy-related services in the United States and China. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 12,200 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.

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Institutional Ownership by Quarter for Energy Transfer LP Unit (NYSE:ET)

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