Energy Transfer LP (NYSE:ET) Shares Diminished by Chicago Capital LLC

Chicago Capital LLC cut its stake in shares of Energy Transfer LP (NYSE:ET – Free Report) by 25.8% during the second quarter, HoldingsChannel.com reports. The fund owned 31,230 shares of the pipeline company’s stock after selling 10,841 shares during the quarter. Chicago Capital LLC’s holdings in Energy Transfer were worth $507,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Berkley WR Corp lifted its position in shares of Energy Transfer by 11.6% in the first quarter. Berkley WR Corp now owns 5,334,494 shares of the pipeline company’s stock valued at $83,912,000 after purchasing an additional 555,445 shares during the last quarter. NBC Securities Inc. boosted its holdings in shares of Energy Transfer by 4.3% in the first quarter. NBC Securities Inc. now owns 56,366 shares of the pipeline company’s stock valued at $886,000 after purchasing an additional 2,326 shares in the last quarter. US Bancorp DE boosted its position in shares of Energy Transfer by 95.8% in the fourth quarter. US Bancorp DE now owns 145,894 shares of the pipeline company’s stock worth $2,013,000 after buying an additional 71,386 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Energy Transfer by 491.3% in the first quarter. Cetera Investment Advisers now owns 1,290,364 shares of the pipeline company’s stock valued at $20,297,000 after purchasing an additional 1,072,144 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in Energy Transfer during the fourth quarter valued at $1,368,000. 38.22% of the shares are currently held by institutional investors and hedge funds.

Energy transfer price performance

Shares of ET stock opened at $15.89 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92, and a current ratio of 1.14. The firm has a market cap of $53.55 billion, a PE ratio of 14.58, a PEG ratio of 0.47 and a beta of 1.66. The company’s 50-day moving average price is $16.10 and its 200-day moving average price is $15.74. Energy Transfer LP has a 12-month low of $12.90 and a 12-month high of $16.50.

Energy Transfer (NYSE:ET – Get Your Free Report ) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $20.73 billion for the quarter, compared to the consensus estimate of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. In the same quarter last year, the business posted EPS of $0.25. As a group, research analysts expect that Energy Transfer LP will post 1.4 EPS for the current fiscal year.

Power transfer increases dividends

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.32 dividend. The ex-dividend date was Friday, August 9. This represents a dividend of $1.28 on an annualized basis and a dividend yield of 8.06%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is currently 117.43%.

The Wall Street analyst weighs in

A number of brokerages have commented on ET. Morgan Stanley boosted their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Mizuho boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Thursday, June 20th. Finally, UBS Group raised their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

Check out our latest research report on energy transfer

Insider transactions at Energy Transfer

In related news, CEO Thomas E. Long acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. In other news, CEO Thomas E. Long purchased 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, Director Kelcy L. Warren bought 3,000,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the acquisition, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. Disclosure for this purchase can be found here. In the last quarter, insiders bought 3,040,000 shares of company stock worth $47,667,200. 3.28% of shares are held by corporate insiders.

About energy transfer

(Free report)

Energy Transfer LP provides energy related services. The Company owns and operates natural gas transmission pipelines 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 companies and other marketing companies, and industrial end users.

See Also

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