Gamco Investors INC. ET AL Has $2.56 Million Holdings in Energy Transfer LP $ET

Key Points

• Gamco Investors INC. ET AL increased its holdings in Energy Transfer LP by 47.9% during the 1st quarter, now owning 137,800 shares valued at approximately $2.56 million.
• Energy Transfer announced a quarterly dividend of $0.33 per share, representing a 7.5% yield, although its dividend payout ratio stands at 102.33%.
• Energy Transfer's stock has a consensus rating of "Moderate Buy" among analysts, with an average target price of $22.50.

Gamco Investors INC. ET AL lifted its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 47.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,800 shares of the pipeline company's stock after acquiring an additional 44,650 shares during the quarter. Gamco Investors INC. ET AL's holdings in Energy Transfer were worth $2,562,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ET. Alps Advisors Inc. boosted its holdings in shares of Energy Transfer by 12.9% in the 1st quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock worth $1,400,831,000 after acquiring an additional 8,613,645 shares in the last quarter. Commerce Bank acquired a new position in shares of Energy Transfer in the 1st quarter worth approximately $92,607,000. Zurich Insurance Group Ltd FI acquired a new position in Energy Transfer during the 4th quarter worth $79,113,000. Westwood Holdings Group Inc. lifted its holdings in Energy Transfer by 18.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock worth $319,929,000 after buying an additional 2,512,060 shares in the last quarter. Finally, Toronto Dominion Bank acquired a new position in Energy Transfer during the 4th quarter worth $48,426,000. 38.22% of the stock is owned by institutional investors and hedge funds.

Energy Transfer Stock Performance

ET stock opened at $17.67 on Friday. The business's fifty day moving average is $17.64 and its 200-day moving average is $17.83. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. The company has a market cap of $60.64 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 0.92 and a beta of 0.83. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts' consensus estimates of $0.32. The company had revenue of $19.24 billion for the quarter, compared to the consensus estimate of $24.07 billion. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The firm's quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.35 EPS. Equities research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 7.5%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. Energy Transfer's dividend payout ratio (DPR) is 102.33%.

Insider Buying and Selling at Energy Transfer

In related news, Director James Richard Perry sold 1,369 shares of the company's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the sale, the director owned 24,523 shares in the company, valued at $453,185.04. This represents a 5.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kelcy L. Warren acquired 1,350,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the transaction, the director owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This represents a 1.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.28% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ET shares. Cowen started coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating on the stock. TD Cowen started coverage on Energy Transfer in a report on Monday, July 7th. They set a "buy" rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $23.00 price objective (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Finally, Morgan Stanley reduced their price objective on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.50.

Energy Transfer Company 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.

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