Gray Wealth Management Inc. Boosts Holdings in Energy Transfer LP (NYSE:ET)

Gray Wealth Management Inc. boosted its position in shares of Energy Transfer LP (NYSE:ET) by 43.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 35,615 shares of the pipeline company’s stock after purchasing an additional 10,728 shares during the quarter. Gray Wealth Management Inc.’s holdings in Energy Transfer were worth $698,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

ET has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Royal Bank of Canada lifted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Barclays increased their price objective on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. The Goldman Sachs Group boosted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company raised their price target on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.55.

Energy Transfer Price Performance

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

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. Sell-side analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a $0.325 dividend. This is a positive change 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 dividend yield of 6.95%. Energy Transfer’s dividend payout ratio is 101.56%.

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.