Gray Wealth Management Inc. Grows Stock Holdings in Energy Transfer LP (NYSE:ET)

Gray Wealth Management Inc. boosted its stake in Energy Transfer LP (NYSE:ET) by 14.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,925 shares of the pipeline company’s stock after acquiring an additional 2,581 shares during the period. Gray Wealth Management Inc.’s holdings in Energy Transfer were worth $289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC raised its stake in shares of Energy Transfer by 88.2% during the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after purchasing an additional 927 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Energy Transfer in the 1st quarter worth $25,000. IMA Wealth Inc. boosted its holdings in shares of Energy Transfer by 100.0% in the second quarter. IMA Wealth Inc. now owns 2,400 shares of the pipeline company’s stock valued at $30,000 after acquiring an additional 1,200 shares in the last quarter. Ronald Blue Trust Inc. acquired a new position in shares of Energy Transfer during the third quarter worth about $34,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in Energy Transfer during the third quarter worth about $35,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

Shares of ET stock traded up $0.30 during midday trading on Thursday, reaching $15.53. 15,791,011 shares of the company traded hands, compared to its average volume of 12,503,741. The firm’s 50 day simple moving average is $15.12 and its two-hundred day simple moving average is $14.22. The firm has a market cap of $52.33 billion, a PE ratio of 14.35 and a beta of 1.64. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88. Energy Transfer LP has a 1-year low of $12.18 and a 1-year high of $16.04.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.08. The firm had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the business posted $0.34 EPS. On average, equities research analysts expect that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Wednesday, February 7th were given a $0.315 dividend. The ex-dividend date was Tuesday, February 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.31. This represents a $1.26 annualized dividend and a dividend yield of 8.11%. Energy Transfer’s payout ratio is currently 115.60%.

Analyst Ratings Changes

A number of brokerages have weighed in on ET. UBS Group lowered their price objective on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Citigroup lifted their price target on Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Finally, Mizuho reaffirmed a “buy” rating and set a $19.00 price objective (up previously from $18.00) on shares of Energy Transfer in a report on Thursday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $17.71.

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.