Gilpin Wealth Management LLC Makes New Investment in Energy Transfer LP $ET

Gilpin Wealth Management LLC purchased a new position in Energy Transfer LP (NYSE:ET) during the fourth quarter, Holdings Channel reports. The fund purchased 94,900 shares of the pipeline company’s stock, valued at approximately $1,565,000. Energy Transfer accounts for 1.2% of Gilpin Wealth Management LLC’s holdings, making the stock its 21st largest holding.

A number of other large investors have also bought and sold shares of the stock. Mountain Capital Investment Advisors Inc. increased its stake in Energy Transfer by 4.9% in the 4th 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 period. Marks Wealth LLC increased its stake in Energy Transfer by 4.7% in the 4th 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 period. SP Asset Management LLC increased its stake in Energy Transfer by 2.0% in the 4th 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 period. Gables Capital Management Inc. increased its stake in Energy Transfer by 60.0% in the 4th 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 period. Finally, Fiduciary Financial Group LLC increased its stake in Energy Transfer by 2.2% in the 4th 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 period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Price Performance

ET opened at $19.04 on Thursday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. Energy Transfer LP has a 52-week low of $16.18 and a 52-week high of $20.70. The stock has a market capitalization of $65.51 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.10 and a beta of 0.55. The stock’s 50 day moving average price is $19.45 and its 200-day moving average price is $18.32.

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

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $0.3375 per share. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 annualized dividend and a dividend yield of 7.1%. The ex-dividend date was Friday, May 8th. Energy Transfer’s dividend payout ratio is presently 112.50%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Citigroup reaffirmed a “buy” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. Morgan Stanley lifted their price target on Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 27th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Energy Transfer in a research note on Wednesday, May 6th. TD Cowen reaffirmed a “buy” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research note on Wednesday, May 13th. Finally, Truist Financial began coverage on Energy Transfer in a research note on Tuesday, March 24th. They set a “buy” rating and a $23.00 target price on the stock. Two equities 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 currently has an average rating of “Buy” and a consensus price target of $23.45.

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.