GM Advisory Group LLC Has $373,000 Holdings in Energy Transfer LP (NYSE:ET)

GM Advisory Group LLC grew its holdings in Energy Transfer LP (NYSE:ET) by 26.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,209 shares of the pipeline company’s stock after purchasing an additional 4,809 shares during the period. GM Advisory Group LLC’s holdings in Energy Transfer were worth $373,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ET. Fortis Capital Management LLC increased its position in Energy Transfer by 2.0% in the 3rd quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock worth $513,000 after purchasing an additional 634 shares during the last quarter. Princeton Global Asset Management LLC increased its holdings in Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock worth $26,000 after buying an additional 650 shares during the last quarter. Veracity Capital LLC raised its position in Energy Transfer by 2.0% during the second quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock valued at $545,000 after acquiring an additional 659 shares in the last quarter. Haverford Trust Co lifted its stake in Energy Transfer by 0.7% in the third quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock valued at $1,640,000 after acquiring an additional 675 shares during the last quarter. Finally, Morton Capital Management LLC CA grew its position in Energy Transfer by 1.6% in the second quarter. Morton Capital Management LLC CA now owns 44,383 shares of the pipeline company’s stock worth $720,000 after acquiring an additional 699 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ET has been the subject of a number of analyst reports. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. Royal Bank of Canada boosted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, UBS Group lifted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $20.00.

Energy Transfer Trading Up 0.5 %

Shares of Energy Transfer stock opened at $19.06 on Friday. Energy Transfer LP has a 52-week low of $13.11 and a 52-week high of $19.20. The firm has a market capitalization of $65.26 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 0.61 and a beta of 1.66. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company’s fifty day moving average price is $16.66 and its two-hundred day moving average price is $16.18.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the previous year, the business earned $0.31 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts expect that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.77%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

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.