Gabelli Funds LLC Sells 25,100 Shares of Energy Transfer LP $ET

Gabelli Funds LLC reduced its position in Energy Transfer LP (NYSE:ET) by 1.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,285,825 shares of the pipeline company’s stock after selling 25,100 shares during the period. Gabelli Funds LLC’s holdings in Energy Transfer were worth $24,816,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Compound Planning Inc. acquired a new stake in shares of Energy Transfer in the first quarter valued at approximately $392,000. Mizuho Markets Americas LLC bought a new stake in Energy Transfer in the 1st quarter valued at $61,760,000. Bank of Nova Scotia bought a new stake in Energy Transfer in the 1st quarter valued at $630,000. Davis R M Inc. acquired a new stake in Energy Transfer during the 1st quarter valued at $307,000. Finally, State of Wyoming boosted its position in Energy Transfer by 85.3% during the first quarter. State of Wyoming now owns 22,274 shares of the pipeline company’s stock worth $430,000 after purchasing an additional 10,252 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Trending Headlines about Energy Transfer

Here are the key news stories impacting Energy Transfer this week:

• Positive Sentiment: ET was featured as a low-beta stock that can help reduce portfolio risk, with stable fee-based revenues and growth projects supporting its defensive appeal. 3 Low-Beta Stocks to Minimize Portfolio Risk: LQDA, ET & PBF
• Positive Sentiment: Analysts and market commentary say Energy Transfer may be undervalued after raising EBITDA guidance, which could support the stock’s upside potential. Energy Transfer (ET) Could Be 13% Undervalued Following Raised EBITDA Guidance
• Positive Sentiment: The company affirmed its income appeal by announcing a quarterly cash distribution on Series I preferred units, signaling continued cash returns to investors. Energy Transfer LP Announces Cash Distribution on Series I Preferred Units
• Positive Sentiment: ET is being highlighted as a high-yield stock with strong analyst support and room to run, reinforcing investor interest in the name. 5 High-Yield Stocks With Analyst Support and Room to Run
• Neutral Sentiment: Several articles note that Zacks users have been searching for ET more frequently, suggesting rising attention but not a clear fundamental catalyst. Energy Transfer LP (ET) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: ET was also mentioned in broader industry pieces on pipeline MLPs and dividend stocks, which support the bullish case but do not add a company-specific catalyst. 3 Oil Pipeline MLP Stocks Riding on Favorable Industry Trends

Energy Transfer Price Performance

NYSE:ET opened at $20.38 on Friday. Energy Transfer LP has a 52 week low of $16.18 and a 52 week high of $20.70. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.93 and a current ratio of 1.17. The firm’s 50-day simple moving average is $19.55 and its 200 day simple moving average is $18.97. The firm has a market cap of $70.11 billion, a price-to-earnings ratio of 16.98, a P/E/G ratio of 1.18 and a beta of 0.55.

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

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $0.3375 dividend. This represents a $1.35 annualized dividend and a dividend yield of 6.6%. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. Energy Transfer’s dividend payout ratio is presently 112.50%.

Analyst Upgrades and Downgrades

ET has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Energy Transfer from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Stifel Nicolaus upped their price target on shares of Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Zacks Research raised shares of Energy Transfer from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Morgan Stanley raised their price objective on shares of Energy Transfer from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 27th. Finally, TD Cowen restated a “buy” rating and set a $24.00 price objective (up from $23.00) on shares of Energy Transfer in a research report on Thursday, July 16th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $23.50.

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.