GM Advisory Group LLC Boosts Position in Energy Transfer LP (NYSE:ET)

GM Advisory Group LLC raised its stake in shares of Energy Transfer LP (NYSE:ET) by 16.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,566 shares of the pipeline company’s stock after buying an additional 2,146 shares during the quarter. GM Advisory Group LLC’s holdings in Energy Transfer were worth $245,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Northwest Financial Advisors purchased a new position in Energy Transfer during the 4th quarter valued at about $25,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Energy Transfer during the 4th quarter valued at about $33,000. Harbor Investment Advisory LLC grew its holdings in Energy Transfer by 42.9% during the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after buying an additional 750 shares in the last quarter. Ables Iannone Moore & Associates Inc. purchased a new position in Energy Transfer during the 4th quarter valued at about $34,000. Finally, EdgeRock Capital LLC purchased a new position in Energy Transfer during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ET shares. UBS Group boosted their price objective on Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Stifel Nicolaus boosted their price objective on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, May 9th. Mizuho boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Finally, Morgan Stanley boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Monday, June 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Price Performance

ET traded up $0.09 during midday trading on Friday, hitting $16.44. The stock had a trading volume of 17,613,857 shares, compared to its average volume of 11,980,264. The company has a market cap of $55.40 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 0.44 and a beta of 1.66. The business has a fifty day moving average of $15.84 and a 200 day moving average of $15.26. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. Energy Transfer LP has a 1 year low of $12.46 and a 1 year high of $16.50.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). The firm had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. Energy Transfer had a return on equity of 12.22% and a net margin of 4.85%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. As a group, equities analysts forecast 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 Monday, May 20th. Shareholders of record on Monday, May 13th were paid a $0.317 dividend. The ex-dividend date of this dividend was Friday, May 10th. This represents a $1.27 annualized dividend and a yield of 7.71%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 116.51%.

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.