Energy Transfer LP (NYSE:ET) is Chickasaw Capital Management LLC’s 2nd Largest Position

Chickasaw Capital Management LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 15,738,594 shares of the pipeline company’s stock after purchasing an additional 388,073 shares during the period. Energy Transfer comprises approximately 12.5% of Chickasaw Capital Management LLC’s portfolio, making the stock its 2nd largest holding. Chickasaw Capital Management LLC’s holdings in Energy Transfer were worth $308,319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ET. FMR LLC grew its stake in shares of Energy Transfer by 44.0% during the 3rd quarter. FMR LLC now owns 33,379,297 shares of the pipeline company’s stock valued at $535,738,000 after purchasing an additional 10,195,768 shares during the period. Westwood Holdings Group Inc. lifted its stake in Energy Transfer by 1.1% in the 2nd quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock worth $261,263,000 after purchasing an additional 171,720 shares in the last quarter. Brookfield Corp ON grew its holdings in Energy Transfer by 2.8% during the 3rd quarter. Brookfield Corp ON now owns 13,139,924 shares of the pipeline company’s stock valued at $210,896,000 after buying an additional 352,625 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Energy Transfer by 36.7% in the third quarter. BNP Paribas Financial Markets now owns 11,563,478 shares of the pipeline company’s stock valued at $185,594,000 after purchasing an additional 3,106,631 shares in the last quarter. Finally, Citigroup Inc. raised its position in shares of Energy Transfer by 45.9% during the 3rd quarter. Citigroup Inc. now owns 9,581,762 shares of the pipeline company’s stock valued at $153,787,000 after buying an additional 3,013,973 shares in the last quarter. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Stock Down 0.7 %

ET stock traded down $0.14 during midday trading on Tuesday, reaching $19.48. 8,857,011 shares of the company were exchanged, compared to its average volume of 14,987,937. The stock’s 50-day simple moving average is $18.48 and its 200 day simple moving average is $16.96. Energy Transfer LP has a 1-year low of $13.60 and a 1-year high of $20.02. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.88 and a current ratio of 1.08. The company has a market cap of $66.70 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The company had revenue of $20.77 billion during the quarter, compared to analysts’ expectations of $21.59 billion. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, equities analysts forecast 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. Shareholders of record on Friday, November 8th were given a dividend of $0.3225 per share. This represents a $1.29 annualized dividend and a yield of 6.62%. The ex-dividend date was Friday, November 8th. Energy Transfer’s payout ratio is 94.85%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ET shares. Royal Bank of Canada upped their target price on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company boosted their target price on shares of Energy Transfer from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. The Goldman Sachs Group raised their price objective on Energy Transfer from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th. Barclays raised their price target 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, UBS Group increased their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.55.

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.