Gibraltar Capital Management Inc. Purchases New Shares in Energy Transfer LP (NYSE:ET)

Gibraltar Capital Management Inc. acquired a new stake in Energy Transfer LP (NYSE:ET - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 51,036 shares of the pipeline company's stock, valued at approximately $949,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC grew its stake in shares of Energy Transfer by 93.4% during the 4th quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company's stock worth $481,000 after purchasing an additional 11,844 shares during the period. Assetmark Inc. boosted its position in Energy Transfer by 401.7% during the 4th quarter. Assetmark Inc. now owns 8,760 shares of the pipeline company's stock worth $172,000 after purchasing an additional 7,014 shares during the period. M&T Bank Corp boosted its stake in shares of Energy Transfer by 4.5% in the fourth quarter. M&T Bank Corp now owns 182,179 shares of the pipeline company's stock valued at $3,569,000 after purchasing an additional 7,811 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Energy Transfer during the 4th quarter valued at approximately $225,000. Finally, United Community Bank acquired a new stake in shares of Energy Transfer during the 4th quarter worth approximately $35,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ET shares. Wells Fargo & Company dropped their price objective 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. Morgan Stanley upped their price target 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. Mizuho increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Citigroup restated a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $23.00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.58.

Insider Activity

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $18.48, for a total transaction of $25,299.12. Following the transaction, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.28% of the company's stock.

Energy Transfer Price Performance

Shares of Energy Transfer stock traded down $0.03 during trading on Tuesday, hitting $17.72. 4,025,837 shares of the company's stock traded hands, compared to its average volume of 15,746,760. The firm's fifty day moving average price is $17.67 and its 200 day moving average price is $18.46. The company has a debt-to-equity ratio of 1.41, a current ratio of 1.12 and a quick ratio of 0.92. The company has a market cap of $60.80 billion, a PE ratio of 13.43, a PEG ratio of 0.58 and a beta of 0.79. Energy Transfer LP has a twelve month low of $14.60 and a twelve month 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 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The firm had revenue of $21.02 billion for the quarter, compared to analyst estimates of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The company's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 earnings per share. Analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 9th were given a dividend of $0.3275 per share. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, May 9th. This represents a $1.31 annualized dividend and a yield of 7.39%. Energy Transfer's dividend payout ratio is 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.