Chickasaw Capital Management LLC Sells 219,141 Shares of Energy Transfer LP $ET

Chickasaw Capital Management LLC trimmed its holdings in shares of Energy Transfer LP (NYSE:ET) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,496,547 shares of the pipeline company’s stock after selling 219,141 shares during the period. Energy Transfer makes up about 10.5% of Chickasaw Capital Management LLC’s portfolio, making the stock its 3rd biggest position. Chickasaw Capital Management LLC’s holdings in Energy Transfer were worth $255,538,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ET. Brighton Jones LLC increased its stake in shares of Energy Transfer by 93.4% in the fourth quarter. Brighton Jones LLC now owns 24,530 shares of the pipeline company’s stock worth $481,000 after acquiring an additional 11,844 shares during the period. AQR Capital Management LLC lifted its position in Energy Transfer by 62.8% during the first quarter. AQR Capital Management LLC now owns 21,041 shares of the pipeline company’s stock valued at $391,000 after purchasing an additional 8,118 shares during the period. Geode Capital Management LLC boosted its holdings in Energy Transfer by 6.2% in the second quarter. Geode Capital Management LLC now owns 135,395 shares of the pipeline company’s stock valued at $2,455,000 after purchasing an additional 7,901 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Energy Transfer by 2.6% in the second quarter. Franklin Resources Inc. now owns 161,433 shares of the pipeline company’s stock valued at $2,927,000 after purchasing an additional 4,084 shares during the last quarter. Finally, AlphaCore Capital LLC grew its position in Energy Transfer by 34.2% during the 2nd quarter. AlphaCore Capital LLC now owns 13,616 shares of the pipeline company’s stock worth $247,000 after purchasing an additional 3,473 shares during the period. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ET shares. TD Cowen boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Morgan Stanley raised their target price on Energy Transfer from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 10th. Royal Bank Of Canada upgraded Energy Transfer to a “moderate buy” rating in a research report on Monday, December 15th. Scotiabank restated an “outperform” rating on shares of Energy Transfer in a research report on Friday, January 16th. Finally, Wells Fargo & Company raised their price objective on shares of Energy Transfer from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, March 13th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.60.

Energy Transfer Trading Up 0.2%

ET stock opened at $19.04 on Tuesday. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $19.30. The company has a quick ratio of 0.90, a current ratio of 1.22 and a debt-to-equity ratio of 1.50. The firm has a market cap of $65.51 billion, a P/E ratio of 15.74, a PEG ratio of 1.05 and a beta of 0.63. The company’s 50-day simple moving average is $18.40 and its 200-day simple moving average is $17.35.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Tuesday, February 17th. The pipeline company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.09). The business had revenue of $25.32 billion during the quarter, compared to analysts’ expectations of $23.56 billion. Energy Transfer had a net margin of 5.11% and a return on equity of 10.17%. Energy Transfer’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 EPS. As a group, equities analysts forecast that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Friday, February 6th were given a $0.335 dividend. This represents a $1.34 dividend on an annualized basis and a dividend yield of 7.0%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, February 6th. Energy Transfer’s dividend payout ratio (DPR) is presently 110.74%.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.