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

Gabelli Funds LLC lessened its stake in Energy Transfer LP (NYSE:ET) by 1.9% in the first quarter, Holdings Channel reports. The firm owned 1,285,825 shares of the pipeline company’s stock after selling 25,100 shares during the quarter. Gabelli Funds LLC’s holdings in Energy Transfer were worth $24,816,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research firms recently issued reports on ET. Raymond James Financial reiterated a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Barclays restated an “overweight” rating and set a $23.00 price objective (up from $22.00) on shares of Energy Transfer in a research report on Thursday, May 14th. Stifel Nicolaus raised their target price on Energy Transfer from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Jefferies Financial Group raised Energy Transfer from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday, May 26th. Finally, Citigroup reiterated a “buy” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 7th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $23.50.

Energy Transfer Stock Down 0.2%

Shares of 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 market capitalization of $70.11 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 1.18 and a beta of 0.55. 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 company has a fifty day moving average of $19.55 and a 200-day moving average of $18.97.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share 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 analyst estimates of $25.78 billion. Energy Transfer had a net margin of 4.66% and a return on equity of 9.77%. The company’s revenue was up 32.1% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. On average, equities analysts predict that Energy Transfer LP will post 1.43 EPS for the current fiscal year.

Energy Transfer Increases Dividend

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

Key Stories Impacting 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 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.