GFG Capital LLC decreased its stake in Energy Transfer LP (NYSE:ET - Free Report) by 95.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,640 shares of the pipeline company's stock after selling 72,200 shares during the quarter. GFG Capital LLC's holdings in Energy Transfer were worth $66,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Indiana Trust & Investment Management Co raised its holdings in shares of Energy Transfer by 5.1% during the first quarter. Indiana Trust & Investment Management Co now owns 11,796 shares of the pipeline company's stock valued at $219,000 after acquiring an additional 576 shares during the last quarter. Beam Wealth Advisors Inc. raised its holdings in shares of Energy Transfer by 1.5% during the first quarter. Beam Wealth Advisors Inc. now owns 39,934 shares of the pipeline company's stock valued at $742,000 after acquiring an additional 585 shares during the last quarter. Morton Capital Management LLC CA raised its holdings in shares of Energy Transfer by 1.3% during the first quarter. Morton Capital Management LLC CA now owns 46,382 shares of the pipeline company's stock valued at $862,000 after acquiring an additional 593 shares during the last quarter. MCF Advisors LLC raised its holdings in shares of Energy Transfer by 7.2% during the second quarter. MCF Advisors LLC now owns 9,195 shares of the pipeline company's stock valued at $167,000 after acquiring an additional 616 shares during the last quarter. Finally, Chicago Capital LLC increased its holdings in shares of Energy Transfer by 2.6% in the second quarter. Chicago Capital LLC now owns 24,056 shares of the pipeline company's stock valued at $436,000 after purchasing an additional 618 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company's stock.
Insider Transactions at Energy Transfer
In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was bought at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the purchase, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. The trade was a 1.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.28% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several research firms recently commented on ET. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Energy Transfer in a report on Wednesday. Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating for the company. Morgan Stanley cut their price target on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Tuesday, August 26th. TD Cowen began coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 price target for the company. Finally, Scotiabank began coverage on Energy Transfer in a report on Tuesday, September 2nd. They issued a "sector outperform" rating and a $23.00 price target for the company. Fourteen research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Energy Transfer currently has a consensus rating of "Moderate Buy" and an average price target of $22.50.
View Our Latest Research Report on Energy Transfer
Energy Transfer Price Performance
ET stock opened at $16.70 on Thursday. The business has a fifty day moving average of $17.39 and a two-hundred day moving average of $17.50. 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 stock has a market cap of $57.33 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 0.98 and a beta of 0.78. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45.
Energy Transfer (NYSE:ET - Get Free Report) last posted its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $19.24 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share. As a group, research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.
Energy Transfer Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 7.9%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, August 8th. Energy Transfer's payout ratio is 102.33%.
Energy Transfer Company Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP (NYSE:ET - Free Report).

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