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

Gray Wealth Management Inc. raised its position in shares of Energy Transfer LP (NYSE:ET) by 43.1% during the 4th quarter, Holdings Channel reports. The fund owned 35,615 shares of the pipeline company’s stock after purchasing an additional 10,728 shares during the period. Gray Wealth Management Inc.’s holdings in Energy Transfer were worth $698,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. raised its stake in Energy Transfer by 2,138.5% during the third quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after purchasing an additional 1,668 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Energy Transfer during the 4th quarter valued at about $29,000. United Community Bank bought a new position in shares of Energy Transfer in the 4th quarter valued at about $35,000. Financial Life Planners purchased a new position in Energy Transfer in the fourth quarter worth about $37,000. Finally, Tortoise Investment Management LLC increased its stake in Energy Transfer by 111.1% during the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock worth $37,000 after acquiring an additional 1,000 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ET. Barclays increased their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group increased their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Royal Bank of Canada upped their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company raised their price target on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Citigroup upped their target price on shares of Energy Transfer from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.55.

Energy Transfer Trading Up 3.0 %

Shares of NYSE:ET opened at $18.72 on Monday. The company has a market capitalization of $64.22 billion, a PE ratio of 14.62, a P/E/G ratio of 0.64 and a beta of 1.72. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a 12-month low of $14.90 and a 12-month high of $21.45. The business’s fifty day simple moving average is $19.65 and its 200-day simple moving average is $18.19.

Energy Transfer (NYSE:ET) last posted its earnings results on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Investors of record on Friday, February 7th were given a dividend of $0.325 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.30 dividend on an annualized basis and a yield of 6.95%. Energy Transfer’s dividend payout ratio is presently 101.56%.

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.