M&T Bank Corp Purchases 217,187 Shares of Energy Transfer LP (NYSE:ET)

M&T Bank Corp lifted its stake in Energy Transfer LP (NYSE:ET - Free Report) by 119.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 399,366 shares of the pipeline company's stock after purchasing an additional 217,187 shares during the quarter. M&T Bank Corp's holdings in Energy Transfer were worth $7,424,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. FMR LLC lifted its stake in Energy Transfer by 15.7% in the fourth quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock worth $756,840,000 after purchasing an additional 5,254,721 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its holdings in shares of Energy Transfer by 7.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company's stock worth $469,920,000 after buying an additional 1,723,683 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Energy Transfer by 5.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company's stock worth $387,416,000 after buying an additional 1,093,381 shares during the period. Westwood Holdings Group Inc. lifted its stake in shares of Energy Transfer by 18.2% during the 4th quarter. Westwood Holdings Group Inc. now owns 16,331,220 shares of the pipeline company's stock worth $319,929,000 after acquiring an additional 2,512,060 shares during the last quarter. Finally, Natixis boosted its holdings in Energy Transfer by 7.1% during the 4th quarter. Natixis now owns 14,619,124 shares of the pipeline company's stock valued at $286,389,000 after acquiring an additional 962,800 shares during the period. Institutional investors own 38.22% of the company's stock.

Insider Transactions at Energy Transfer

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

Energy Transfer Stock Up 0.1%

NYSE:ET traded up $0.01 during mid-day trading on Friday, reaching $17.45. The company's stock had a trading volume of 9,430,584 shares, compared to its average volume of 15,795,474. The company has a quick ratio of 0.92, a current ratio of 1.12 and a debt-to-equity ratio of 1.41. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The stock has a fifty day moving average of $17.75 and a 200-day moving average of $18.43. The firm has a market capitalization of $59.88 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.55 and a beta of 0.79.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share 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 firm had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The company's revenue was down 2.8% compared to the same quarter last year. Equities research 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 announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were issued a dividend of $0.3275 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.31 dividend on an annualized basis and a yield of 7.51%. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is currently 99.24%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ET. Mizuho increased their target price on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. cut their price target 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 reiterated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Royal Bank Of Canada reissued an "outperform" rating and issued a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. Finally, Cowen started coverage on shares of Energy Transfer in a research note on Monday. They issued a "buy" rating on the stock. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, Energy Transfer currently has a consensus rating of "Moderate Buy" and an average price target of $22.58.

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.