Global Trust Asset Management LLC Has $83,000 Stock Position in Energy Transfer LP (NYSE:ET)

Global Trust Asset Management LLC raised its stake in shares of Energy Transfer LP (NYSE:ET) by 23.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,300 shares of the pipeline company’s stock after purchasing an additional 1,000 shares during the quarter. Global Trust Asset Management LLC’s holdings in Energy Transfer were worth $83,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ET. Northwest Financial Advisors acquired a new stake in Energy Transfer during the fourth quarter valued at approximately $25,000. Rise Advisors LLC raised its stake in shares of Energy Transfer by 88.2% in the fourth quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after acquiring an additional 927 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Energy Transfer in the fourth quarter valued at approximately $33,000. Harbor Investment Advisory LLC raised its stake in shares of Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 750 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new position in Energy Transfer in the 4th quarter worth approximately $34,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ET shares. Mizuho boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. UBS Group boosted their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, Morgan Stanley boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer currently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $15.92 on Tuesday. Energy Transfer LP has a 52 week low of $12.46 and a 52 week high of $16.40. The stock has a market capitalization of $53.63 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 0.43 and a beta of 1.63. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The firm has a fifty day moving average of $15.68 and a two-hundred day moving average of $14.94.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The firm had revenue of $21.63 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same period last year, the firm earned $0.32 EPS. Energy Transfer’s quarterly revenue was up 13.9% on a year-over-year basis. As a group, equities research analysts predict that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were issued a $0.317 dividend. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, May 10th. This represents a $1.27 annualized dividend and a dividend yield of 7.97%. Energy Transfer’s payout ratio is 116.51%.

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.