Cutter & CO Brokerage Inc. Purchases 84,159 Shares of Energy Transfer LP (NYSE:ET)

Cutter & CO Brokerage Inc. lifted its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 17.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 562,361 shares of the pipeline company's stock after purchasing an additional 84,159 shares during the quarter. Energy Transfer accounts for approximately 2.5% of Cutter & CO Brokerage Inc.'s portfolio, making the stock its 8th largest holding. Cutter & CO Brokerage Inc.'s holdings in Energy Transfer were worth $10,454,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bank of Montreal Can grew its stake in Energy Transfer by 12,090.8% in the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock valued at $244,005,000 after acquiring an additional 12,353,441 shares during the period. Alps Advisors Inc. lifted its holdings in Energy Transfer by 12.9% during the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock valued at $1,400,831,000 after purchasing an additional 8,613,645 shares in the last quarter. FMR LLC grew its position in shares of Energy Transfer by 15.7% in the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after purchasing an additional 5,254,721 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in shares of Energy Transfer during the fourth quarter worth about $79,113,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Energy Transfer during the 4th quarter worth about $50,166,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered 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. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $23.00 price target on shares of Energy Transfer in a research note on Tuesday, March 25th. TD Cowen assumed coverage on Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective for the company. Morgan Stanley lifted their target price 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. Finally, Wells Fargo & Company reduced their target price on shares of Energy Transfer from $22.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $22.58.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the stock in a transaction that occurred 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 sale, the director directly owned 24,523 shares of the company's stock, valued at approximately $453,185.04. This represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.28% of the company's stock.

Energy Transfer Trading Up 0.3%

NYSE:ET traded up $0.05 on Monday, hitting $17.51. The stock had a trading volume of 9,923,931 shares, compared to its average volume of 15,859,234. The company has a fifty day moving average price of $17.75 and a two-hundred day moving average price of $18.41. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.41. The stock has a market cap of $60.07 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.55 and a beta of 0.79.

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

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a dividend of $0.3275 per share. The ex-dividend date of this dividend was Friday, May 9th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 dividend on an annualized basis and a dividend yield of 7.48%. Energy Transfer's payout ratio is currently 99.24%.

About Energy Transfer

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.