Energy Transfer LP $ET Shares Acquired by GFS Advisors LLC

GFS Advisors LLC lifted its stake in Energy Transfer LP (NYSE:ET) by 56.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,230 shares of the pipeline company’s stock after buying an additional 39,230 shares during the quarter. GFS Advisors LLC’s holdings in Energy Transfer were worth $1,874,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CNB Bank lifted its holdings in Energy Transfer by 111.1% in the second quarter. CNB Bank now owns 1,900 shares of the pipeline company’s stock valued at $34,000 after acquiring an additional 1,000 shares during the period. HHM Wealth Advisors LLC increased its holdings in shares of Energy Transfer by 54.4% during the 2nd quarter. HHM Wealth Advisors LLC now owns 2,270 shares of the pipeline company’s stock valued at $41,000 after purchasing an additional 800 shares in the last quarter. Core Alternative Capital acquired a new position in shares of Energy Transfer in the 3rd quarter valued at $46,000. FSC Wealth Advisors LLC acquired a new position in shares of Energy Transfer in the 2nd quarter valued at $50,000. Finally, Golden State Wealth Management LLC boosted its holdings in Energy Transfer by 38.9% during the third quarter. Golden State Wealth Management LLC now owns 2,918 shares of the pipeline company’s stock worth $50,000 after buying an additional 817 shares in the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Trading Up 0.3%

ET stock opened at $18.27 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.14 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $20.51. The stock has a market cap of $62.71 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 0.94 and a beta of 0.66. The business’s 50-day moving average is $17.17 and its 200 day moving average is $17.13.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Friday, February 6th will be given a dividend of $0.335 per share. The ex-dividend date is Friday, February 6th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.34 annualized dividend and a dividend yield of 7.3%. Energy Transfer’s dividend payout ratio (DPR) is presently 107.20%.

Wall Street Analyst Weigh In

ET has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, November 24th. Jefferies Financial Group set a $17.00 target price on shares of Energy Transfer and gave the stock a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “buy (b-)” rating on shares of Energy Transfer in a research note on Wednesday, December 24th. UBS Group reaffirmed a “buy” rating on shares of Energy Transfer in a report on Wednesday, January 7th. Finally, Scotiabank reiterated an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.36.

Insider Buying and Selling

In other news, Director Kelcy L. Warren acquired 1,000,000 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were bought at an average price of $16.95 per share, for a total transaction of $16,950,000.00. Following the acquisition, the director owned 104,577,803 shares of the company’s stock, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 3.28% of the company’s stock.

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.