Godsey & Gibb Inc. Raises Stake in Energy Transfer LP (NYSE:ET)

Godsey & Gibb Inc. boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 19.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,795 shares of the pipeline company’s stock after purchasing an additional 795 shares during the period. Godsey & Gibb Inc.’s holdings in Energy Transfer were worth $89,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock valued at $481,000 after acquiring an additional 11,844 shares in the last quarter. Choreo LLC boosted its holdings in shares of Energy Transfer by 12.1% in the fourth quarter. Choreo LLC now owns 60,776 shares of the pipeline company’s stock valued at $1,190,000 after acquiring an additional 6,541 shares in the last quarter. Tyche Wealth Partners LLC boosted its holdings in shares of Energy Transfer by 11.7% in the fourth quarter. Tyche Wealth Partners LLC now owns 17,887 shares of the pipeline company’s stock valued at $350,000 after acquiring an additional 1,873 shares in the last quarter. Financial Advocates Investment Management boosted its holdings in shares of Energy Transfer by 12.4% in the fourth quarter. Financial Advocates Investment Management now owns 18,235 shares of the pipeline company’s stock valued at $357,000 after acquiring an additional 2,006 shares in the last quarter. Finally, Consolidated Portfolio Review Corp purchased a new stake in shares of Energy Transfer in the fourth quarter valued at about $673,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Up 1.5%

Shares of NYSE ET opened at $17.94 on Friday. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45. The company has a market capitalization of $61.57 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 0.64 and a beta of 0.78. 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’s 50-day moving average is $17.20 and its two-hundred day moving average is $18.62.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, beating 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 company had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a $0.3275 dividend. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.30%. The ex-dividend date was Friday, May 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. Energy Transfer’s payout ratio is currently 99.24%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley boosted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, March 25th. JPMorgan Chase & Co. decreased 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. Citigroup reissued a “buy” rating on shares of Energy Transfer in a report on Monday, March 24th. Finally, Wells Fargo & Company decreased 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. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer currently has a consensus rating of “Moderate Buy” and an average price target of $22.64.

Energy Transfer 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.