Energy Transfer LP (NYSE:ET) Position Boosted by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC lifted its position in shares of Energy Transfer LP (NYSE:ET) by 2.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 15,738,594 shares of the pipeline company’s stock after purchasing an additional 388,073 shares during the quarter. Energy Transfer comprises approximately 12.5% of Chickasaw Capital Management LLC’s holdings, making the stock its 2nd largest holding. Chickasaw Capital Management LLC owned approximately 0.46% of Energy Transfer worth $308,319,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in shares of Energy Transfer by 32.3% during the second quarter. Bank of New York Mellon Corp now owns 94,442 shares of the pipeline company’s stock worth $1,532,000 after purchasing an additional 23,079 shares during the period. Natixis Advisors LLC bought a new stake in Energy Transfer during the second quarter worth approximately $419,000. National Bank of Canada FI raised its position in shares of Energy Transfer by 5.5% during the second quarter. National Bank of Canada FI now owns 28,942 shares of the pipeline company’s stock worth $473,000 after purchasing an additional 1,500 shares during the period. Private Advisor Group LLC lifted its stake in Energy Transfer by 13.9% during the second quarter. Private Advisor Group LLC now owns 564,336 shares of the pipeline company’s stock valued at $9,154,000 after buying an additional 68,945 shares in the last quarter. Finally, Strategic Financial Concepts LLC grew its position in Energy Transfer by 1,610.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 722,096 shares of the pipeline company’s stock worth $117,000 after purchasing an additional 679,872 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Down 0.7 %

Shares of ET stock traded down $0.14 on Tuesday, reaching $19.48. 8,857,011 shares of the company were exchanged, compared to its average volume of 14,987,937. The company has a 50-day moving average of $18.48 and a 200-day moving average of $16.96. Energy Transfer LP has a one year low of $13.60 and a one year high of $20.02. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.08 and a quick ratio of 0.88. The company has a market cap of $66.70 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last posted its quarterly earnings results on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. The business had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. Energy Transfer’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.31 EPS. Analysts anticipate that Energy Transfer LP will post 1.32 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 6.62%. Energy Transfer’s payout ratio is presently 94.85%.

Wall Street Analysts Forecast Growth

ET has been the topic of several recent analyst reports. Bank of America began coverage on Energy Transfer in a research report on Thursday, October 17th. They issued a “buy” rating and a $20.00 price target on the stock. Royal Bank of Canada upped their price target on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company boosted their target price on Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Barclays lifted their target price on shares of Energy Transfer from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Finally, The Goldman Sachs Group increased their price target on shares of Energy Transfer from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.55.

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.