Godsey & Gibb Inc. Increases Stock Position in Energy Transfer LP (NYSE:ET)

Godsey & Gibb Inc. boosted its position in shares of Energy Transfer LP (NYSE:ET) by 19.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,795 shares of the pipeline company’s stock after buying an additional 795 shares during the quarter. Godsey & Gibb Inc.’s holdings in Energy Transfer were worth $89,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ET. United Advisor Group LLC boosted its position in Energy Transfer by 3.0% in the 4th quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company’s stock valued at $363,000 after buying an additional 534 shares during the period. Wealthspire Advisors LLC boosted its position in Energy Transfer by 0.4% in the 4th quarter. Wealthspire Advisors LLC now owns 130,202 shares of the pipeline company’s stock valued at $2,551,000 after buying an additional 535 shares during the period. Cannell & Spears LLC boosted its position in Energy Transfer by 0.4% in the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company’s stock valued at $2,657,000 after buying an additional 546 shares during the period. Platform Technology Partners boosted its position in Energy Transfer by 0.8% in the 4th quarter. Platform Technology Partners now owns 67,299 shares of the pipeline company’s stock valued at $1,318,000 after buying an additional 553 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its position in Energy Transfer by 18.0% in the 4th quarter. Capital Advisors Ltd. LLC now owns 3,649 shares of the pipeline company’s stock valued at $71,000 after buying an additional 556 shares during the period. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $17.94 on Friday. The company’s fifty day moving average price is $17.20 and its 200 day moving average price is $18.62. Energy Transfer LP has a 12 month low of $14.60 and a 12 month high of $21.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The firm has a market capitalization of $61.57 billion, a P/E ratio of 14.02, a P/E/G ratio of 0.64 and a beta of 0.78.

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

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were given a dividend of $0.3275 per share. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 7.30%. The ex-dividend date was Friday, May 9th. Energy Transfer’s dividend payout ratio (DPR) is presently 99.24%.

Analyst Upgrades and Downgrades

Several brokerages have commented on ET. Citigroup reissued a “buy” rating on shares of Energy Transfer in a research report on Monday, March 24th. Wells Fargo & Company reduced their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. reduced their price objective on shares of Energy Transfer from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, May 19th. UBS Group restated a “buy” rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Mizuho raised their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, May 20th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.64.

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.