Godsey & Gibb Inc. Has $78,000 Stake in Energy Transfer LP (NYSE:ET)

Godsey & Gibb Inc. reduced its stake in shares of Energy Transfer LP (NYSE:ET) by 46.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,000 shares of the pipeline company’s stock after selling 3,488 shares during the period. Godsey & Gibb Inc.’s holdings in Energy Transfer were worth $78,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ET. Burney Co. raised its position in shares of Energy Transfer by 3.1% during the fourth quarter. Burney Co. now owns 67,618 shares of the pipeline company’s stock worth $1,325,000 after acquiring an additional 2,058 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in Energy Transfer during the 4th quarter valued at approximately $237,000. Community Trust & Investment Co. bought a new position in Energy Transfer during the 4th quarter worth approximately $197,000. SeaCrest Wealth Management LLC lifted its position in shares of Energy Transfer by 27.0% in the 4th quarter. SeaCrest Wealth Management LLC now owns 33,621 shares of the pipeline company’s stock worth $659,000 after purchasing an additional 7,147 shares during the period. Finally, Breakwater Capital Group bought a new stake in shares of Energy Transfer in the 4th quarter valued at $404,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on ET shares. Wells Fargo & Company boosted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. UBS Group boosted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 target price on the stock. The Goldman Sachs Group lifted their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. Finally, Royal Bank of Canada increased their price target on Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.82.

Energy Transfer Trading Up 0.6 %

NYSE ET opened at $20.04 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 52 week low of $13.60 and a 52 week high of $20.32. The business has a 50 day moving average price of $18.85 and a 200-day moving average price of $17.12. The company has a market cap of $68.62 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 0.62 and a beta of 1.70.

Energy Transfer (NYSE:ET) last posted its quarterly 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 net margin of 5.90% and a return on equity of 12.38%. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same quarter last year, the firm posted $0.31 EPS. Energy Transfer’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts expect that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.44%. Energy Transfer’s dividend payout ratio is presently 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.