GFS Advisors LLC Acquires 59,692 Shares of Energy Transfer LP (NYSE:ET)

GFS Advisors LLC lifted its holdings in shares of Energy Transfer LP (NYSE:ET) by 19,380.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,000 shares of the pipeline company’s stock after purchasing an additional 59,692 shares during the period. GFS Advisors LLC’s holdings in Energy Transfer were worth $963,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ET. Norden Group LLC bought a new stake in Energy Transfer in the first quarter valued at $384,000. Sequoia Financial Advisors LLC grew its stake in shares of Energy Transfer by 8.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 35,531 shares of the pipeline company’s stock valued at $559,000 after buying an additional 2,804 shares during the period. Mission Wealth Management LP increased its position in Energy Transfer by 54.9% in the 1st quarter. Mission Wealth Management LP now owns 29,053 shares of the pipeline company’s stock valued at $457,000 after buying an additional 10,294 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Energy Transfer by 4.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 499,752 shares of the pipeline company’s stock worth $7,861,000 after buying an additional 20,786 shares during the period. Finally, Lincoln National Corp boosted its holdings in Energy Transfer by 9.5% in the first quarter. Lincoln National Corp now owns 228,021 shares of the pipeline company’s stock worth $3,587,000 after acquiring an additional 19,774 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren acquired 3,000,000 shares of the business’s stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Kelcy L. Warren purchased 3,000,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the purchase, the director now directly owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gregory G. Mcilwain bought 20,000 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were acquired at an average price of $15.68 per share, with a total value of $313,600.00. Following the transaction, the executive vice president now directly owns 591,211 shares of the company’s stock, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 3,040,000 shares of company stock worth $47,667,200 in the last 90 days. Insiders own 3.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ET shares. Royal Bank of Canada boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Bank of America assumed coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a “buy” rating and a $20.00 price target for the company. Finally, UBS Group upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Energy Transfer presently has a consensus rating of “Buy” and an average price target of $20.00.

Energy Transfer Trading Down 0.3 %

Shares of Energy Transfer stock opened at $16.43 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. The stock has a fifty day simple moving average of $16.19 and a 200 day simple moving average of $16.00. Energy Transfer LP has a 12-month low of $13.01 and a 12-month high of $16.64. The company has a market capitalization of $56.23 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm had revenue of $20.73 billion during the quarter, compared to analysts’ expectations of $22.01 billion. During the same quarter in the prior year, the company earned $0.25 EPS. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, November 8th will be given a dividend of $0.3225 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 7.85%. Energy Transfer’s dividend payout ratio is currently 107.56%.

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.