Gilman Hill Asset Management LLC Trims Position in Energy Transfer LP (NYSE:ET)

Gilman Hill Asset Management LLC lessened its stake in shares of Energy Transfer LP (NYSE:ET) by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 375,666 shares of the pipeline company’s stock after selling 6,181 shares during the period. Energy Transfer accounts for approximately 1.2% of Gilman Hill Asset Management LLC’s portfolio, making the stock its 27th biggest position. Gilman Hill Asset Management LLC’s holdings in Energy Transfer were worth $6,984,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Mountain Hill Investment Partners Corp. purchased a new stake in Energy Transfer in the fourth quarter valued at $25,000. Capital A Wealth Management LLC purchased a new stake in Energy Transfer in the 4th quarter valued at about $26,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $29,000. United Community Bank purchased a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $35,000. Finally, Tortoise Investment Management LLC raised its stake in shares of Energy Transfer by 111.1% in the 4th quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ET has been the topic of a number of research analyst reports. Mizuho boosted their target price on Energy Transfer from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, May 20th. Citigroup reaffirmed a “buy” rating on shares of Energy Transfer in a research note on Monday, March 24th. Wells Fargo & Company dropped their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 7th. JPMorgan Chase & Co. dropped their price target on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Finally, Morgan Stanley increased their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, March 25th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.64.

Energy Transfer Stock Down 2.1%

Shares of NYSE:ET opened at $17.53 on Thursday. The company has a market cap of $60.16 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.64 and a beta of 0.77. The firm’s 50-day simple moving average is $17.23 and its 200-day simple moving average is $18.62. The company has a quick ratio of 0.88, a current ratio of 1.12 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 earnings per share. As a group, equities research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were paid a dividend of $0.3275 per share. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.31 annualized dividend and a dividend yield of 7.47%. Energy Transfer’s payout ratio is 99.24%.

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.