Gilman Hill Asset Management LLC Has $7.48 Million Position in Energy Transfer LP (NYSE:ET)

Gilman Hill Asset Management LLC lessened its position in Energy Transfer LP (NYSE:ET) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 381,847 shares of the pipeline company’s stock after selling 27,317 shares during the period. Energy Transfer comprises about 1.3% of Gilman Hill Asset Management LLC’s portfolio, making the stock its 19th largest holding. Gilman Hill Asset Management LLC’s holdings in Energy Transfer were worth $7,480,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in shares of Energy Transfer during the 4th quarter worth approximately $29,000. Princeton Global Asset Management LLC raised its holdings in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after acquiring an additional 650 shares in the last quarter. Assetmark Inc. lifted its position in shares of Energy Transfer by 2,138.5% during the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company’s stock valued at $28,000 after acquiring an additional 1,668 shares during the period. HWG Holdings LP acquired a new stake in shares of Energy Transfer during the 2nd quarter worth $33,000. Finally, Continuum Advisory LLC increased its position in shares of Energy Transfer by 44.8% in the third quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 729 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Trading Up 0.2 %

Shares of Energy Transfer stock opened at $20.28 on Monday. 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 firm has a market cap of $69.45 billion, a PE ratio of 14.91, a P/E/G ratio of 0.57 and a beta of 1.70. The stock has a fifty day moving average price of $19.02 and a 200-day moving average price of $17.19. Energy Transfer LP has a 1 year low of $13.60 and a 1 year high of $20.40.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $20.77 billion for the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. Equities research analysts anticipate that Energy Transfer LP will post 1.34 EPS for the current year.

Energy Transfer Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.36%. Energy Transfer’s payout ratio is 94.85%.

Wall Street Analysts Forecast Growth

ET has been the topic of several recent analyst reports. Barclays raised their target price on shares of Energy Transfer from $22.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, January 13th. The Goldman Sachs Group lifted their price target on Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Bank of America began coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Wells Fargo & Company lifted their target price on Energy Transfer from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada raised their target price on shares of Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $20.82.

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.