Energy Transfer LP (NYSE:ET) Stock Holdings Trimmed by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC lessened its stake in shares of Energy Transfer LP (NYSE:ET) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 381,847 shares of the pipeline company’s stock after selling 27,317 shares during the quarter. Energy Transfer comprises about 1.3% of Gilman Hill Asset Management LLC’s investment portfolio, making the stock its 19th biggest holding. Gilman Hill Asset Management LLC’s holdings in Energy Transfer were worth $7,480,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Hsbc Holdings PLC purchased a new position in shares of Energy Transfer during the second quarter valued at $290,000. Ieq Capital LLC grew its holdings in shares of Energy Transfer by 8.0% during the 2nd quarter. Ieq Capital LLC now owns 197,856 shares of the pipeline company’s stock valued at $3,209,000 after acquiring an additional 14,728 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Energy Transfer by 31.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 8,140 shares of the pipeline company’s stock valued at $132,000 after acquiring an additional 1,963 shares in the last quarter. AE Wealth Management LLC raised its holdings in shares of Energy Transfer by 22.6% during the second quarter. AE Wealth Management LLC now owns 89,232 shares of the pipeline company’s stock worth $1,447,000 after acquiring an additional 16,445 shares in the last quarter. Finally, Sei Investments Co. boosted its position in Energy Transfer by 77.4% during the second quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock valued at $747,000 after purchasing an additional 20,093 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ET shares. Barclays raised their price target on Energy Transfer from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Bank of America began coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price for the company. Wells Fargo & Company increased their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Royal Bank of Canada lifted their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group lifted their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Trading Up 0.2 %

Shares of ET opened at $20.28 on Monday. The stock has a 50 day simple moving average of $19.02 and a 200-day simple moving average of $17.19. Energy Transfer LP has a 1 year low of $13.60 and a 1 year high of $20.40. The stock has a market cap of $69.45 billion, a PE ratio of 14.91, a PEG ratio of 0.57 and a beta of 1.70. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.31 earnings per share. On average, sell-side analysts predict that Energy Transfer LP will post 1.34 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 6.36%. Energy Transfer’s payout ratio is currently 94.85%.

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.