Gibraltar Capital Management Inc. Invests $949,000 in Energy Transfer LP (NYSE:ET)

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

A number of other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in Energy Transfer by 93.4% in 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. increased its stake in Energy Transfer by 401.7% in 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 increased its stake in Energy Transfer by 4.5% in the 4th quarter. M&T Bank Corp now owns 182,179 shares of the pipeline company's stock worth $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 Energy Transfer in the 4th quarter worth approximately $225,000. Finally, United Community Bank purchased a new position in Energy Transfer in the 4th quarter worth approximately $35,000. Institutional investors own 38.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ET shares. 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. JPMorgan Chase & Co. reduced their target price on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. Cowen assumed coverage on Energy Transfer in a research note on Monday. They set a "buy" rating on the stock. Wells Fargo & Company reduced 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, Morgan Stanley boosted their target price on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research note 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.58.

Energy Transfer Stock Performance

ET traded down $0.22 during midday trading on Monday, reaching $17.75. The company had a trading volume of 13,175,954 shares, compared to its average volume of 15,793,045. 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 business has a 50-day moving average of $17.66 and a two-hundred day moving average of $18.47. The company has a market cap of $60.91 billion, a P/E ratio of 13.45, a P/E/G ratio of 0.58 and a beta of 0.79. Energy Transfer LP has a 1 year low of $14.60 and a 1 year 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 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a return on equity of 11.47% and a net margin of 5.88%. The business's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 earnings per share. As a group, equities 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. Investors 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 represents a $1.31 annualized dividend and a dividend yield of 7.38%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio (DPR) is currently 99.24%.

Insider Activity

In related news, Director James Richard Perry sold 1,369 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $18.48, for a total transaction of $25,299.12. Following the completion of the sale, the director owned 24,523 shares in the company, valued at approximately $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.28% of the company's stock.

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.