GM Advisory Group LLC Has $298,000 Holdings in Energy Transfer LP (NYSE:ET)

GM Advisory Group LLC raised its stake in Energy Transfer LP (NYSE:ET) by 18.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,400 shares of the pipeline company’s stock after acquiring an additional 2,834 shares during the quarter. GM Advisory Group LLC’s holdings in Energy Transfer were worth $298,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. LRI Investments LLC bought a new position in shares of Energy Transfer in the 1st quarter valued at about $29,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Energy Transfer in the 4th quarter valued at about $34,000. Adirondack Trust Co. bought a new position in shares of Energy Transfer in the 4th quarter valued at about $42,000. EdgeRock Capital LLC bought a new position in shares of Energy Transfer in the 2nd quarter valued at about $42,000. Finally, Hudson Edge Investment Partners Inc. bought a new position in shares of Energy Transfer in the 2nd quarter valued at about $42,000. Institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

ET has been the topic of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Monday, June 10th. Mizuho lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. UBS Group lifted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.14.

Insider Activity

In other Energy Transfer news, Director Kelcy L. Warren acquired 3,000,000 shares of the stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the acquisition, the director now directly owns 123,385,650 shares of the company’s stock, valued at $1,934,686,992. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Kelcy L. Warren bought 3,000,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost 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 in the company, valued at $1,934,686,992. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas E. Long bought 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The disclosure for this purchase can be found here. Insiders have acquired 3,040,000 shares of company stock worth $47,667,200 over the last ninety days. Insiders own 3.28% of the company’s stock.

Energy Transfer Stock Performance

Shares of ET opened at $16.20 on Friday. 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 twelve month low of $12.90 and a twelve month high of $16.50. The firm has a market cap of $54.58 billion, a P/E ratio of 14.86, a PEG ratio of 0.46 and a beta of 1.66. The firm’s 50 day moving average price is $16.06 and its two-hundred day moving average price is $15.82.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same quarter last year, the business earned $0.25 earnings per share. Energy Transfer’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, analysts forecast that Energy Transfer LP will post 1.4 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.90%. Energy Transfer’s dividend payout ratio (DPR) is 117.43%.

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.