Energy Transfer LP (NYSE:ET) Shares Sold by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC cut its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 381,847 shares of the pipeline company's stock after selling 27,317 shares during the period. Energy Transfer accounts for approximately 1.3% of Gilman Hill Asset Management LLC's investment portfolio, making the stock its 19th biggest holding. Gilman Hill Asset Management LLC's holdings in Energy Transfer were worth $7,480,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Princeton Global Asset Management LLC grew its position in Energy Transfer by 65.0% during 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 last quarter. Assetmark Inc. lifted its stake in shares of Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock worth $28,000 after buying an additional 1,668 shares during the period. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer during the fourth quarter valued at $29,000. HWG Holdings LP acquired a new position in shares of Energy Transfer in the 2nd quarter valued at $33,000. Finally, Sugarloaf Wealth Management LLC raised its stake 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 during the last quarter. Hedge funds and other institutional investors own 38.22% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

ET has been the topic of a number of research reports. Wells Fargo & Company increased their price objective on Energy Transfer from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Bank of America assumed coverage on shares of Energy Transfer in a report on Thursday, October 17th. They issued a "buy" rating and a $20.00 price target on the stock. The Goldman Sachs Group lifted their price objective on shares of Energy Transfer from $17.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th. Barclays raised their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Finally, Royal Bank of Canada upped their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an "outperform" rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $20.82.

Energy Transfer Price Performance

Shares of Energy Transfer stock traded up $0.03 on Monday, hitting $20.28. 14,533,663 shares of the company were exchanged, compared to its average volume of 11,469,590. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The company has a 50-day moving average price of $19.02 and a 200 day moving average price of $17.20. The stock has a market capitalization of $69.45 billion, a price-to-earnings ratio of 14.91, a price-to-earnings-growth ratio of 0.57 and a beta of 1.70. Energy Transfer LP has a 1-year low of $13.60 and a 1-year high of $20.40.

Energy Transfer (NYSE:ET - Get Free Report) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion during the quarter, compared to analysts' expectations of $21.59 billion. During the same period in the prior year, the business earned $0.31 EPS. The firm's quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts predict that Energy Transfer LP will post 1.34 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer's dividend payout ratio (DPR) is presently 94.85%.

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.