Gabelli Funds LLC Sells 12,500 Shares of Energy Transfer LP (NYSE:ET)

Gabelli Funds LLC lessened its holdings in Energy Transfer LP (NYSE:ET) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,243,789 shares of the pipeline company’s stock after selling 12,500 shares during the quarter. Gabelli Funds LLC’s holdings in Energy Transfer were worth $20,174,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ET. Fidelis Capital Partners LLC raised its stake in shares of Energy Transfer by 25.1% during the second quarter. Fidelis Capital Partners LLC now owns 31,149 shares of the pipeline company’s stock valued at $487,000 after acquiring an additional 6,250 shares in the last quarter. Holderness Investments Co. increased its position in Energy Transfer by 3.6% during the 2nd quarter. Holderness Investments Co. now owns 57,261 shares of the pipeline company’s stock valued at $929,000 after purchasing an additional 2,006 shares during the period. Westwood Holdings Group Inc. boosted its stake in shares of Energy Transfer by 1.1% during the second quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock valued at $261,263,000 after purchasing an additional 171,720 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in Energy Transfer by 127.4% during the second quarter. Summit Trail Advisors LLC now owns 38,114 shares of the pipeline company’s stock valued at $618,000 after buying an additional 21,356 shares during the period. Finally, Sei Investments Co. raised its stake in Energy Transfer by 77.4% in the second quarter. Sei Investments Co. now owns 46,063 shares of the pipeline company’s stock worth $747,000 after buying an additional 20,093 shares in the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ET. Morgan Stanley lifted their price target on Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Monday, June 10th. JPMorgan Chase & Co. increased their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, June 20th. Mizuho lifted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Finally, UBS Group increased their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.14.

Insider Buying and Selling

In other Energy Transfer news, EVP Gregory G. Mcilwain purchased 20,000 shares of Energy Transfer stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Gregory G. Mcilwain purchased 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now owns 591,211 shares of the company’s stock, valued at $9,270,188.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kelcy L. Warren acquired 3,000,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The disclosure for this purchase can be found here. Insiders bought 3,040,000 shares of company stock valued at $47,667,200 over the last quarter. 3.28% of the stock is currently owned by company insiders.

Energy Transfer Stock Up 0.2 %

NYSE:ET opened at $16.20 on Monday. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a twelve month low of $12.90 and a twelve month high of $16.50. The company has a market cap of $54.59 billion, a PE ratio of 14.86, a P/E/G ratio of 0.46 and a beta of 1.66. The company’s 50 day moving average is $16.06 and its two-hundred day moving average is $15.83.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. Energy Transfer’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. Analysts anticipate that Energy Transfer LP will post 1.4 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 7.90%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 9th. Energy Transfer’s dividend payout ratio (DPR) is presently 117.43%.

About Energy Transfer

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.