GSA Capital Partners LLP Buys New Shares in Energy Transfer LP (NYSE:ET)

GSA Capital Partners LLP bought a new stake in Energy Transfer LP (NYSE:ET) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 73,663 shares of the pipeline company’s stock, valued at approximately $1,159,000.

Several other large investors have also made changes to their positions in ET. Northwest Financial Advisors acquired a new stake in shares of Energy Transfer during the fourth quarter valued at about $25,000. Rise Advisors LLC boosted its stake in shares of Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after buying an additional 927 shares during the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Energy Transfer during the fourth quarter worth approximately $33,000. Harbor Investment Advisory LLC increased 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 worth $34,000 after buying an additional 750 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new stake in Energy Transfer in the fourth quarter valued at $34,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Energy Transfer Price Performance

ET stock traded up $0.13 during trading on Wednesday, hitting $16.25. The company had a trading volume of 4,689,258 shares, compared to its average volume of 11,736,544. Energy Transfer LP has a fifty-two week low of $12.46 and a fifty-two week high of $16.48. The firm has a market capitalization of $54.76 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 0.44 and a beta of 1.66. The business has a 50 day moving average of $15.79 and a 200 day moving average of $15.14. The company has a current ratio of 1.18, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.04). The company had revenue of $21.63 billion for the quarter, compared to analyst estimates of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. Energy Transfer’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. As a group, research analysts predict that Energy Transfer LP will post 1.45 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Monday, May 13th were paid a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.80%. The ex-dividend date of this dividend was Friday, May 10th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 116.51%.

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.