Gilman Hill Asset Management LLC Acquires 13,544 Shares of Energy Transfer LP (NYSE:ET)

Gilman Hill Asset Management LLC raised its holdings in shares of Energy Transfer LP (NYSE:ET) by 3.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 409,164 shares of the pipeline company’s stock after acquiring an additional 13,544 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Energy Transfer were worth $6,567,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. LRI Investments LLC acquired a new stake in Energy Transfer during the 1st quarter valued at $29,000. HWG Holdings LP acquired a new stake in Energy Transfer during the 2nd quarter valued at $33,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Energy Transfer during the 4th quarter valued at $34,000. Sugarloaf Wealth Management LLC lifted its holdings in Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after purchasing an additional 750 shares during the last quarter. Finally, Adirondack Trust Co. acquired a new stake in Energy Transfer during the 4th quarter valued at $42,000. 38.22% of the stock is owned by institutional investors.

Energy Transfer Price Performance

Shares of NYSE ET traded up $0.16 during mid-day trading on Friday, reaching $16.52. The company had a trading volume of 15,709,520 shares, compared to its average volume of 13,134,111. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. Energy Transfer LP has a one year low of $12.90 and a one year high of $16.64. The firm has a market cap of $55.67 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 0.50 and a beta of 1.66. The business’s 50-day simple moving average is $16.04 and its 200 day simple moving average is $15.92.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The company had revenue of $20.73 billion during the quarter, compared to the consensus estimate of $22.01 billion. During the same quarter in the previous year, the business posted $0.25 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, research analysts predict that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 7.75%. The ex-dividend date was Friday, August 9th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 117.43%.

Analyst Ratings Changes

Several brokerages have issued reports on ET. Mizuho raised their price target on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. UBS Group lifted their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lifted their target price on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $20.00.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 3,000,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kelcy L. Warren purchased 3,000,000 shares of Energy Transfer stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 3,040,000 shares of company stock worth $47,667,200 over the last 90 days. Insiders own 3.28% of the company’s stock.

Energy Transfer Company 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.