Energy Transfer LP $ET Shares Acquired by Gateway Wealth Partners LLC

Key Points

• Gateway Wealth Partners increased its Energy Transfer stake by 114.6% in the first quarter, adding 64,000 shares to hold 119,838 shares valued at approximately $2.3 million. Other institutional investors also boosted positions, with institutions collectively owning 38.22% of the company.
• Energy Transfer reported quarterly revenue of $27.77 billion, up 32.1% year over year, but earnings per share of $0.35 fell short of the $0.40 analyst consensus.
• The company maintains a quarterly dividend of $0.34 per share, equivalent to a 6.8% annualized yield. Analysts remain positive, with a consensus “Buy” rating and an average price target of $23.50 versus the reported share price of $19.91.

Gateway Wealth Partners LLC grew its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 114.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,838 shares of the pipeline company's stock after acquiring an additional 64,000 shares during the period. Gateway Wealth Partners LLC's holdings in Energy Transfer were worth $2,313,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cypress Capital Group purchased a new position in Energy Transfer during the first quarter valued at approximately $359,000. Callodine Capital Management LP raised its position in Energy Transfer by 18.3% in the 1st quarter. Callodine Capital Management LP now owns 1,875,000 shares of the pipeline company's stock valued at $36,188,000 after buying an additional 290,000 shares during the last quarter. Matrix Private Capital Group LLC acquired a new stake in Energy Transfer in the 1st quarter valued at approximately $873,000. Waverly Advisors LLC lifted its stake in Energy Transfer by 22.3% in the 1st quarter. Waverly Advisors LLC now owns 1,725,843 shares of the pipeline company's stock valued at $33,309,000 after acquiring an additional 314,965 shares in the last quarter. Finally, Empirical Finance LLC lifted its stake in Energy Transfer by 86.8% in the 1st quarter. Empirical Finance LLC now owns 1,404,756 shares of the pipeline company's stock valued at $27,112,000 after acquiring an additional 652,711 shares in the last quarter. Institutional investors own 38.22% of the company's stock.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $19.91 on Tuesday. The stock has a 50 day moving average of $19.54 and a 200-day moving average of $19.02. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The company has a market capitalization of $68.50 billion, a P/E ratio of 16.59, a P/E/G ratio of 1.18 and a beta of 0.55. Energy Transfer LP has a 12 month low of $16.18 and a 12 month high of $20.70.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. During the same quarter last year, the business posted $0.36 EPS. Energy Transfer's revenue for the quarter was up 32.1% on a year-over-year basis. As a group, equities research analysts predict that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 19th. Shareholders of record on Friday, August 7th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, August 7th. This is a boost from Energy Transfer's previous quarterly dividend of $0.34. This represents a $1.36 annualized dividend and a yield of 6.8%. Energy Transfer's dividend payout ratio (DPR) is presently 112.50%.

Wall Street Analyst Weigh In

ET has been the topic of a number of recent research reports. Raymond James Financial reiterated a "strong-buy" rating on shares of Energy Transfer in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Energy Transfer in a research report on Friday, June 5th. Zacks Research upgraded shares of Energy Transfer from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 13th. Citigroup reissued a "buy" rating and set a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 7th. Finally, UBS Group restated a "buy" rating on shares of Energy Transfer in a research note on Tuesday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $23.50.

Energy Transfer 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.

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