GM Advisory Group LLC Buys 4,809 Shares of Energy Transfer LP (NYSE:ET)

GM Advisory Group LLC raised its stake in Energy Transfer LP (NYSE:ET) by 26.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 23,209 shares of the pipeline company’s stock after buying an additional 4,809 shares during the quarter. GM Advisory Group LLC’s holdings in Energy Transfer were worth $373,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ET. Fortis Capital Management LLC increased its holdings in shares of Energy Transfer by 2.0% in the third quarter. Fortis Capital Management LLC now owns 31,956 shares of the pipeline company’s stock valued at $513,000 after purchasing an additional 634 shares in the last quarter. Princeton Global Asset Management LLC boosted its position in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. Veracity Capital LLC boosted its position in Energy Transfer by 2.0% in the 2nd quarter. Veracity Capital LLC now owns 33,575 shares of the pipeline company’s stock valued at $545,000 after buying an additional 659 shares during the last quarter. Haverford Trust Co raised its position in shares of Energy Transfer by 0.7% during the third quarter. Haverford Trust Co now owns 102,176 shares of the pipeline company’s stock worth $1,640,000 after acquiring an additional 675 shares during the last quarter. Finally, Morton Capital Management LLC CA raised its position in shares of Energy Transfer by 1.6% during 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 during the last quarter. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Up 0.5 %

Energy Transfer stock opened at $19.06 on Friday. The firm has a market capitalization of $65.26 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 0.61 and a beta of 1.66. The company’s 50 day simple moving average is $16.66 and its 200 day simple moving average is $16.18. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. Energy Transfer LP has a fifty-two week low of $13.11 and a fifty-two week high of $19.20.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. During the same period last year, the firm posted $0.31 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a yield of 6.77%. Energy Transfer’s payout ratio is 94.85%.

Analysts Set New Price Targets

A number of analysts recently commented on ET shares. UBS Group lifted their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Bank of America began coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Finally, Royal Bank of Canada increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $20.00.

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.