Nicholson Meyer Capital Management Inc. Acquires Shares of 56,424 Energy Transfer LP (NYSE:ET)

Nicholson Meyer Capital Management Inc. purchased a new stake in Energy Transfer LP (NYSE:ET - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 56,424 shares of the pipeline company's stock, valued at approximately $1,049,000. Energy Transfer makes up 1.0% of Nicholson Meyer Capital Management Inc.'s holdings, making the stock its 19th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. bought a new position in Energy Transfer during the fourth quarter valued at about $25,000. Capital A Wealth Management LLC acquired a new position in shares of Energy Transfer during the 4th quarter valued at about $26,000. Fourth Dimension Wealth LLC bought a new position in shares of Energy Transfer in the 4th quarter valued at approximately $29,000. United Community Bank acquired a new stake in Energy Transfer in the 4th quarter worth approximately $35,000. Finally, Tortoise Investment Management LLC boosted its position in Energy Transfer by 111.1% during the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock worth $37,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 38.22% of the company's stock.

Energy Transfer Stock Performance

Shares of ET traded down $0.06 during trading hours on Monday, reaching $18.14. 11,172,759 shares of the company traded hands, compared to its average volume of 15,753,306. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.92 and a current ratio of 1.12. The stock's fifty day moving average is $17.58 and its 200 day moving average is $18.49. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The stock has a market cap of $62.25 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 0.59 and a beta of 0.78.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The firm had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same period in the previous year, the company posted $0.32 earnings per share. The company's quarterly revenue was down 2.8% compared to the same quarter last year. Equities research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were paid a $0.3275 dividend. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.22%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's dividend payout ratio is presently 99.24%.

Insider Buying and Selling

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of Energy Transfer stock in a transaction on Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the sale, the director owned 24,523 shares in the company, valued at $453,185.04. The trade was a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.28% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on ET. Morgan Stanley lifted their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research report on Tuesday, March 25th. UBS Group reiterated a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. JPMorgan Chase & Co. cut their target price on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Wells Fargo & Company decreased their price target on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.64.

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.