Chickasaw Capital Management LLC Boosts Stock Position in Energy Transfer LP (NYSE:ET)

Chickasaw Capital Management LLC grew its position in shares of Energy Transfer LP (NYSE:ET) by 3.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 15,350,521 shares of the pipeline company’s stock after acquiring an additional 466,565 shares during the period. Energy Transfer comprises about 10.5% of Chickasaw Capital Management LLC’s holdings, making the stock its 4th largest holding. Chickasaw Capital Management LLC owned about 0.46% of Energy Transfer worth $246,376,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ET. Security National Bank of Sioux City Iowa IA increased its stake in shares of Energy Transfer by 89.7% during the fourth quarter. Security National Bank of Sioux City Iowa IA now owns 32,825 shares of the pipeline company’s stock valued at $453,000 after purchasing an additional 15,525 shares in the last quarter. DRW Securities LLC bought a new stake in Energy Transfer in the fourth quarter worth $1,661,000. CMG Global Holdings LLC grew its stake in shares of Energy Transfer by 8.7% in the fourth quarter. CMG Global Holdings LLC now owns 13,926 shares of the pipeline company’s stock worth $201,000 after acquiring an additional 1,117 shares during the last quarter. Burford Brothers Inc. bought a new position in shares of Energy Transfer during the fourth quarter valued at $1,667,000. Finally, Voisard Asset Management Group Inc. purchased a new position in shares of Energy Transfer in the 4th quarter worth about $121,000. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Insider Buying and Selling at Energy Transfer

In related news, CEO Thomas E. Long bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Thomas E. Long bought 20,000 shares of Energy Transfer stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average cost of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at $67,562,909.12. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the company’s stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the transaction, the director now owns 123,385,650 shares of the company’s stock, valued at approximately $1,934,686,992. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 3,040,000 shares of company stock valued at $47,667,200. Insiders own 3.28% of the company’s stock.

Wall Street Analyst Weigh In

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

Energy Transfer Stock Performance

ET stock traded up $0.16 on Friday, hitting $16.52. The company had a trading volume of 15,709,520 shares, compared to its average volume of 13,134,111. The stock 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. The company has a current ratio of 1.14, a quick ratio of 0.92 and a debt-to-equity ratio of 1.38. The stock’s 50-day simple moving average is $16.04 and its 200 day simple moving average is $15.92. Energy Transfer LP has a 12-month low of $12.90 and a 12-month high of $16.64.

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

Energy Transfer Increases Dividend

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

Energy Transfer 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.