Energy Transfer LP (NYSE:ET) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC cut its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,249,492 shares of the pipeline company's stock after selling 14,797 shares during the period. Gabelli Funds LLC's holdings in Energy Transfer were worth $24,478,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. MML Investors Services LLC boosted its stake in Energy Transfer by 2.4% during the 3rd quarter. MML Investors Services LLC now owns 109,984 shares of the pipeline company's stock valued at $1,765,000 after acquiring an additional 2,620 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Energy Transfer by 4.2% during the third quarter. Geode Capital Management LLC now owns 126,331 shares of the pipeline company's stock worth $2,028,000 after purchasing an additional 5,127 shares during the last quarter. World Investment Advisors LLC grew its stake in Energy Transfer by 4.6% in the third quarter. World Investment Advisors LLC now owns 78,806 shares of the pipeline company's stock worth $1,265,000 after purchasing an additional 3,485 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in Energy Transfer by 1,265.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 231,398 shares of the pipeline company's stock valued at $3,714,000 after buying an additional 214,446 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in Energy Transfer by 1.2% during the third quarter. Tidal Investments LLC now owns 101,738 shares of the pipeline company's stock valued at $1,633,000 after buying an additional 1,248 shares in the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Energy Transfer Stock Performance

ET traded up $0.32 during trading hours on Friday, hitting $17.24. The company's stock had a trading volume of 11,249,104 shares, compared to its average volume of 15,208,299. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The company has a 50-day simple moving average of $18.29 and a 200 day simple moving average of $18.43. The firm has a market capitalization of $59.14 billion, a PE ratio of 13.46, a PEG ratio of 0.64 and a beta of 1.32.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, sell-side analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Friday, February 7th were paid a $0.325 dividend. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 dividend on an annualized basis and a dividend yield of 7.54%. The ex-dividend date was Friday, February 7th. Energy Transfer's dividend payout ratio is currently 101.56%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ET shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. Citigroup reiterated a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. The Goldman Sachs Group increased their target price on shares of Energy Transfer from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, December 19th. Stifel Nicolaus lifted their price target on shares of Energy Transfer from $21.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, Morgan Stanley increased their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 25th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $22.09.

Energy Transfer Profile

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.