Energy Transfer LP $ET Shares Sold by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC cut its holdings in Energy Transfer LP (NYSE:ET) by 88.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,275 shares of the pipeline company’s stock after selling 26,112 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Energy Transfer were worth $54,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mountain Capital Investment Advisors Inc. grew its holdings in shares of Energy Transfer by 4.9% during the fourth quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock worth $216,000 after purchasing an additional 560 shares during the last quarter. Marks Wealth LLC grew its holdings in shares of Energy Transfer by 4.7% during the fourth quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock worth $207,000 after purchasing an additional 560 shares during the last quarter. SP Asset Management LLC grew its holdings in shares of Energy Transfer by 2.0% during the fourth quarter. SP Asset Management LLC now owns 30,631 shares of the pipeline company’s stock worth $505,000 after purchasing an additional 589 shares during the last quarter. Gables Capital Management Inc. grew its holdings in shares of Energy Transfer by 60.0% during the fourth quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company’s stock worth $26,000 after purchasing an additional 600 shares during the last quarter. Finally, Fiduciary Financial Group LLC grew its holdings in shares of Energy Transfer by 2.2% during the fourth quarter. Fiduciary Financial Group LLC now owns 28,106 shares of the pipeline company’s stock worth $463,000 after purchasing an additional 607 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

NYSE ET opened at $20.09 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $20.70. The business’s 50-day moving average price is $19.35 and its 200 day moving average price is $18.06. The firm has a market cap of $69.14 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.21 and a beta of 0.57.

Energy Transfer (NYSE:ET) last released its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The company had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. During the same period in the prior year, the business earned $0.36 EPS. The business’s quarterly revenue was up 32.1% compared to the same quarter last year. On average, equities research analysts expect that Energy Transfer LP will post 1.37 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a dividend of $0.3375 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend was Friday, May 8th. Energy Transfer’s dividend payout ratio is 112.50%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ET shares. Wells Fargo & Company raised their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, March 13th. Citigroup reaffirmed a “buy” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. Barclays reaffirmed an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 14th. JPMorgan Chase & Co. raised their price objective on Energy Transfer from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $22.73.

About Energy Transfer

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.