Gaddis Premier Wealth Advisors LLC Buys New Position in Energy Transfer LP $ET

Gaddis Premier Wealth Advisors LLC bought a new stake in shares of Energy Transfer LP (NYSE:ET) during the 4th quarter, HoldingsChannel.com reports. The fund bought 34,905 shares of the pipeline company’s stock, valued at approximately $576,000.

Other hedge funds also recently modified their holdings of the company. Basepoint Wealth LLC purchased a new position in shares of Energy Transfer during the fourth quarter valued at approximately $25,000. Gables Capital Management Inc. boosted its position 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 valued at $26,000 after buying an additional 600 shares during the last quarter. Sarver Vrooman Wealth Advisors purchased a new position in shares of Energy Transfer during the fourth quarter valued at approximately $32,000. Financial Life Planners purchased a new position in shares of Energy Transfer during the third quarter valued at approximately $34,000. Finally, Navalign LLC purchased a new position in shares of Energy Transfer during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE ET opened at $19.33 on Tuesday. The firm has a market capitalization of $66.50 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.12 and a beta of 0.55. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The stock’s 50-day simple moving average is $19.47 and its two-hundred day simple moving average is $18.28. Energy Transfer LP has a twelve month low of $16.18 and a twelve month high of $20.70.

Energy Transfer (NYSE:ET) last announced its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.Energy Transfer’s revenue was up 32.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 earnings per share. As a group, equities analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a $0.3375 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a yield of 7.0%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s dividend payout ratio is currently 112.50%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Citigroup reissued a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 7th. Jefferies Financial Group raised Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a research report on Tuesday, May 26th. Truist Financial assumed coverage on Energy Transfer in a research report on Tuesday, March 24th. They issued a “buy” rating and a $23.00 price objective on the stock. TD Cowen reissued a “buy” rating and issued a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Wednesday, May 13th. Finally, Wells Fargo & Company boosted their price objective on Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Energy Transfer has an average rating of “Buy” and a consensus target price of $23.45.

Energy Transfer Company Profile

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.