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

Chickasaw Capital Management LLC raised its stake in shares of Energy Transfer LP (NYSE:ET) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,350,521 shares of the pipeline company’s stock after purchasing an additional 466,565 shares during the period. Energy Transfer accounts for approximately 10.5% of Chickasaw Capital Management LLC’s holdings, making the stock its 4th biggest position. Chickasaw Capital Management LLC’s holdings in Energy Transfer were worth $246,376,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. increased its stake in Energy Transfer by 12.7% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after acquiring an additional 4,141,715 shares during the last quarter. Natixis raised its holdings in Energy Transfer by 20.0% during the 1st quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock valued at $283,463,000 after buying an additional 2,999,300 shares during the period. Payden & Rygel Investment Group bought a new stake in Energy Transfer in the first quarter worth $20,164,000. Merewether Investment Management LP increased its position in Energy Transfer by 22.3% during the second quarter. Merewether Investment Management LP now owns 6,591,793 shares of the pipeline company’s stock valued at $106,919,000 after acquiring an additional 1,200,501 shares during the last quarter. Finally, Progeny 3 Inc. raised its stake in shares of Energy Transfer by 104.6% in the first quarter. Progeny 3 Inc. now owns 2,205,785 shares of the pipeline company’s stock valued at $34,697,000 after acquiring an additional 1,127,500 shares during the period. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In other Energy Transfer news, Director Kelcy L. Warren acquired 3,000,000 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gregory G. Mcilwain bought 20,000 shares of Energy Transfer stock in a transaction dated Friday, August 23rd. The shares were acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the purchase, the executive vice president now owns 591,211 shares in the company, valued at approximately $9,270,188.48. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 3,040,000 shares of company stock worth $47,667,200 in the last three months. Company insiders own 3.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ET shares. Mizuho increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. UBS Group increased their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $20.00.

Energy Transfer Stock Up 1.0 %

Shares of ET stock traded up $0.16 during trading hours on Friday, reaching $16.52. 15,709,520 shares of the company’s stock were exchanged, compared to its average volume of 13,134,111. The stock’s 50 day moving average is $16.04 and its 200-day moving average is $15.92. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. Energy Transfer LP has a fifty-two week low of $12.90 and a fifty-two week high of $16.64. The company has a market cap of $55.67 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 0.50 and a beta of 1.66.

Energy Transfer (NYSE:ET) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The business’s revenue was up 13.1% on a year-over-year basis. Analysts predict that Energy Transfer LP will post 1.35 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 7.75%. The ex-dividend date was Friday, August 9th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio is currently 117.43%.

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.