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

M&T Bank Corp increased its stake in Energy Transfer LP (NYSE:ET - Free Report) by 119.2% during the first quarter, according to its most recent Form 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 period. M&T Bank Corp's holdings in Energy Transfer were worth $7,424,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. United Advisor Group LLC increased its position in Energy Transfer by 3.0% during the 4th quarter. United Advisor Group LLC now owns 18,540 shares of the pipeline company's stock worth $363,000 after purchasing an additional 534 shares in the last quarter. Cannell & Spears LLC increased its position in Energy Transfer by 0.4% during the 4th quarter. Cannell & Spears LLC now owns 135,647 shares of the pipeline company's stock worth $2,657,000 after purchasing an additional 546 shares in the last quarter. Morton Capital Management LLC CA increased its position in Energy Transfer by 1.3% during the 1st quarter. Morton Capital Management LLC CA now owns 46,382 shares of the pipeline company's stock worth $862,000 after purchasing an additional 593 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in Energy Transfer by 3.0% during the 4th quarter. OneDigital Investment Advisors LLC now owns 20,389 shares of the pipeline company's stock worth $399,000 after purchasing an additional 596 shares in the last quarter. Finally, Fortis Capital Management LLC increased its position in Energy Transfer by 1.9% during the 4th quarter. Fortis Capital Management LLC now owns 32,556 shares of the pipeline company's stock worth $638,000 after purchasing an additional 600 shares in the last quarter. Institutional investors own 38.22% of the company's stock.

Insider Transactions at Energy Transfer

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the business's stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.28% of the company's stock.

Energy Transfer Stock Performance

NYSE:ET opened at $17.63 on Thursday. The company has a market capitalization of $60.50 billion, a PE ratio of 13.36, a P/E/G ratio of 0.58 and a beta of 0.79. The company has a 50 day simple moving average of $17.71 and a two-hundred day simple moving average of $18.45. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.92 and a current ratio of 1.12. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week 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, beating analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $21.02 billion for the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. The business's quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Research analysts anticipate that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were paid a $0.3275 dividend. The ex-dividend date of this dividend was Friday, May 9th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 7.43%. Energy Transfer's payout ratio is 99.24%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ET. Cowen began coverage on Energy Transfer in a research report on Monday. They set a "buy" rating on the stock. JPMorgan Chase & Co. reduced their price objective on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Royal Bank Of Canada restated an "outperform" rating and set a $23.00 price objective on shares of Energy Transfer in a research report on Tuesday, March 25th. 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 report on Tuesday, March 25th. Finally, TD Cowen began coverage on shares of Energy Transfer in a research report on Monday. They set a "buy" rating and a $22.00 target price on the stock. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has an average 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.

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