GAMMA Investing LLC Acquires 17,090 Shares of Energy Transfer LP (NYSE:ET)

GAMMA Investing LLC grew its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 1,139.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,590 shares of the pipeline company's stock after acquiring an additional 17,090 shares during the quarter. GAMMA Investing LLC's holdings in Energy Transfer were worth $346,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in ET. Brighton Jones LLC increased its stake in shares of Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock worth $481,000 after buying an additional 11,844 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Energy Transfer in the 4th quarter worth $615,000. Van ECK Associates Corp increased its position in shares of Energy Transfer by 2.9% in the fourth quarter. Van ECK Associates Corp now owns 160,529 shares of the pipeline company's stock valued at $3,145,000 after acquiring an additional 4,513 shares during the period. Principal Securities Inc. raised its stake in shares of Energy Transfer by 9.8% during the fourth quarter. Principal Securities Inc. now owns 28,203 shares of the pipeline company's stock valued at $552,000 after acquiring an additional 2,516 shares during the last quarter. Finally, Empower Advisory Group LLC bought a new position in shares of Energy Transfer during the fourth quarter valued at about $205,000. 38.22% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ET. UBS Group reissued a "buy" rating on shares of Energy Transfer in a research note on Tuesday, March 4th. Wells Fargo & Company cut their price objective on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Mizuho upped their target price on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, May 20th. 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. Finally, Citigroup reissued a "buy" rating on shares of Energy Transfer in a research report on Monday, March 24th. One 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, Energy Transfer currently has an average rating of "Moderate Buy" and an average price target of $22.64.

Insider Transactions at Energy Transfer

In other news, Director James Richard Perry sold 1,369 shares of the company's 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 transaction, the director now owns 24,523 shares in the company, valued at approximately $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.28% of the company's stock.

Energy Transfer Price Performance

ET opened at $17.81 on Friday. 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 $61.10 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 0.58 and a beta of 0.78. The stock has a fifty day simple moving average of $17.50 and a two-hundred day simple moving average of $18.54. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The company had revenue of $21.02 billion during the quarter, compared to analyst estimates of $22.28 billion. During the same period last year, the business earned $0.32 EPS. Energy Transfer's quarterly revenue was down 2.8% compared to the same quarter last year. Research analysts predict that Energy Transfer LP will post 1.46 earnings per share for the current fiscal 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 annualized dividend and a dividend yield of 7.36%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's dividend payout ratio (DPR) is presently 99.24%.

Energy Transfer 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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