Brookstone Capital Management Buys 18,375 Shares of Energy Transfer LP (NYSE:ET)

Brookstone Capital Management raised its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 8.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 244,204 shares of the pipeline company's stock after acquiring an additional 18,375 shares during the period. Brookstone Capital Management's holdings in Energy Transfer were worth $4,540,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mountain Hill Investment Partners Corp. bought a new position in shares of Energy Transfer during the fourth quarter valued at about $25,000. Capital A Wealth Management LLC bought a new position in Energy Transfer during the 4th quarter worth approximately $26,000. Fourth Dimension Wealth LLC bought a new position in Energy Transfer during the 4th quarter worth approximately $29,000. United Community Bank bought a new position in Energy Transfer during the 4th quarter worth approximately $35,000. Finally, Tortoise Investment Management LLC grew its holdings in shares of Energy Transfer by 111.1% in the fourth quarter. Tortoise Investment Management LLC now owns 1,900 shares of the pipeline company's stock worth $37,000 after purchasing an additional 1,000 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Up 0.2%

Energy Transfer stock traded up $0.04 during trading hours on Friday, hitting $17.94. 7,052,899 shares of the stock traded hands, compared to its average volume of 15,803,525. The firm's 50-day moving average price is $17.66 and its two-hundred day moving average price is $18.47. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41. The company has a market cap of $61.57 billion, a PE ratio of 13.59, a PEG ratio of 0.58 and a beta of 0.79. Energy Transfer LP has a one year low of $14.60 and a one year high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The company had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same period in the previous year, the company posted $0.32 earnings per share. The firm's revenue was down 2.8% on a year-over-year basis. On average, research analysts forecast that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were issued a dividend of $0.3275 per share. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.30%. The ex-dividend date was Friday, May 9th. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is 99.24%.

Insider Activity at Energy Transfer

In related news, Director James Richard Perry sold 1,369 shares of the business's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $18.48, for a total transaction of $25,299.12. Following the sale, the director owned 24,523 shares of the company's stock, valued at $453,185.04. The trade was a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.28% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ET. JPMorgan Chase & Co. cut their target price on shares of Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, May 19th. Citigroup reissued a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Morgan Stanley raised their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. Wells Fargo & Company cut their target price on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $23.00 target price on shares of Energy Transfer in a research note on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.64.

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.