GPS Wealth Strategies Group LLC Lowers Stock Position in Energy Transfer LP $ET

GPS Wealth Strategies Group LLC decreased its holdings in shares of Energy Transfer LP (NYSE:ET) by 88.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,275 shares of the pipeline company’s stock after selling 26,112 shares during the period. GPS Wealth Strategies Group LLC’s holdings in Energy Transfer were worth $54,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cumberland Partners Ltd grew its holdings in Energy Transfer by 0.9% during the fourth quarter. Cumberland Partners Ltd now owns 380,005 shares of the pipeline company’s stock worth $6,266,000 after acquiring an additional 3,300 shares during the period. Americana Partners LLC grew its holdings in Energy Transfer by 13.4% during the fourth quarter. Americana Partners LLC now owns 3,186,247 shares of the pipeline company’s stock worth $52,541,000 after acquiring an additional 377,224 shares during the period. Advisory Alpha LLC acquired a new position in Energy Transfer during the fourth quarter worth $221,000. Axxcess Wealth Management LLC grew its holdings in Energy Transfer by 7.7% during the fourth quarter. Axxcess Wealth Management LLC now owns 18,482 shares of the pipeline company’s stock worth $305,000 after acquiring an additional 1,315 shares during the period. Finally, Texas Bank & Trust Co grew its holdings in Energy Transfer by 0.6% during the fourth quarter. Texas Bank & Trust Co now owns 155,958 shares of the pipeline company’s stock worth $2,572,000 after acquiring an additional 960 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Price Performance

Shares of NYSE:ET opened at $20.09 on Friday. The business’s 50 day simple moving average is $19.35 and its 200-day simple moving average is $18.06. The firm has a market capitalization of $69.14 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.21 and a beta of 0.57. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.17 and a quick ratio of 0.93. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $20.70.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.Energy Transfer’s revenue was up 32.1% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. As a group, equities analysts forecast that Energy Transfer LP will post 1.37 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $0.3375 per share. The ex-dividend date was Friday, May 8th. This represents a $1.35 annualized dividend and a dividend yield of 6.7%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is presently 112.50%.

Analyst Ratings Changes

A number of research analysts recently weighed in on ET shares. Truist Financial started coverage on Energy Transfer in a report on Tuesday, March 24th. They set a “buy” rating and a $23.00 price objective on the stock. Citigroup reaffirmed a “buy” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Energy Transfer in a report on Wednesday, May 6th. TD Cowen reiterated a “buy” rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research report on Wednesday, May 13th. Finally, Scotiabank reissued an “outperform” rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $22.73.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.