94,900 Shares in Energy Transfer LP $ET Purchased by Gilpin Wealth Management LLC

Gilpin Wealth Management LLC acquired a new position in Energy Transfer LP (NYSE:ET) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 94,900 shares of the pipeline company’s stock, valued at approximately $1,565,000. Energy Transfer comprises about 1.2% of Gilpin Wealth Management LLC’s portfolio, making the stock its 21st biggest position.

Several other large investors also recently added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new position in Energy Transfer in the 4th quarter worth about $25,000. Gables Capital Management Inc. boosted 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. Sarver Vrooman Wealth Advisors bought a new position in Energy Transfer in the 4th quarter worth about $32,000. Financial Life Planners bought a new position in Energy Transfer in the 3rd quarter worth about $34,000. Finally, Navalign LLC bought a new position in Energy Transfer in the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on ET shares. UBS Group restated a “buy” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Truist Financial started coverage on Energy Transfer in a research note on Tuesday, March 24th. They issued a “buy” rating and a $23.00 target price for the company. Morgan Stanley raised their target price 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. TD Cowen restated a “buy” rating and issued a $23.00 target price (up from $22.00) on shares of Energy Transfer in a research note on Wednesday, May 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Energy Transfer in a research note on Friday, June 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $23.45.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $19.04 on Thursday. The stock has a market cap of $65.51 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 1.10 and a beta of 0.55. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $20.70. The stock’s 50-day moving average is $19.45 and its 200 day moving average is $18.32.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). The firm had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The business’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 earnings per share. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

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

Energy Transfer Company Profile

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.