GAMMA Investing LLC Makes New Investment in Energy Transfer LP (NYSE:ET)

GAMMA Investing LLC purchased a new stake in Energy Transfer LP (NYSE:ET) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,500 shares of the pipeline company’s stock, valued at approximately $29,000.

A number of other hedge funds have also modified their holdings of ET. FFG Partners LLC increased its position in Energy Transfer by 3.3% during the third quarter. FFG Partners LLC now owns 1,636,626 shares of the pipeline company’s stock worth $26,268,000 after buying an additional 52,302 shares in the last quarter. Fidelity D & D Bancorp Inc. purchased a new stake in shares of Energy Transfer in the third quarter valued at $1,207,000. Peapack Gladstone Financial Corp boosted its stake in shares of Energy Transfer by 6.8% during the third quarter. Peapack Gladstone Financial Corp now owns 15,675 shares of the pipeline company’s stock valued at $251,000 after acquiring an additional 1,000 shares during the last quarter. Synovus Financial Corp increased its position in Energy Transfer by 69.8% during the 3rd quarter. Synovus Financial Corp now owns 84,530 shares of the pipeline company’s stock worth $1,357,000 after purchasing an additional 34,749 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in Energy Transfer by 1.2% in the 3rd quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company’s stock valued at $1,633,000 after purchasing an additional 1,248 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ET shares. Wells Fargo & Company boosted their price objective on shares of Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Bank of America started coverage on Energy Transfer in a report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target for the company. Barclays increased 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. UBS Group lifted their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, The Goldman Sachs Group increased their target price on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and a consensus price target of $20.82.

Energy Transfer Trading Up 2.2 %

NYSE:ET opened at $19.89 on Wednesday. The stock has a market cap of $68.10 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 0.62 and a beta of 1.70. Energy Transfer LP has a fifty-two week low of $13.60 and a fifty-two week high of $20.02. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The stock’s 50-day moving average is $18.85 and its two-hundred day moving average is $17.12.

Energy Transfer (NYSE:ET) last issued its earnings results 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 for the quarter, compared to analyst estimates of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.31 EPS. As a group, equities research analysts forecast that Energy Transfer LP will post 1.32 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were issued a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a dividend yield of 6.49%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer’s dividend payout ratio is currently 94.85%.

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.