Energy Transfer LP (NYSE:ET) Shares Purchased by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC grew its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,738,594 shares of the pipeline company's stock after buying an additional 388,073 shares during the quarter. Energy Transfer makes up about 12.5% of Chickasaw Capital Management LLC's investment portfolio, making the stock its 2nd largest holding. Chickasaw Capital Management LLC owned approximately 0.46% of Energy Transfer worth $308,319,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Princeton Global Asset Management LLC raised its position in shares of Energy Transfer by 65.0% in the third quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company's stock valued at $26,000 after purchasing an additional 650 shares during the period. Assetmark Inc. grew its stake in Energy Transfer by 2,138.5% in the 3rd quarter. Assetmark Inc. now owns 1,746 shares of the pipeline company's stock valued at $28,000 after buying an additional 1,668 shares during the last quarter. GAMMA Investing LLC bought a new position in Energy Transfer in the 4th quarter worth $29,000. HWG Holdings LP acquired a new position in Energy Transfer during the 2nd quarter worth $33,000. Finally, Sugarloaf Wealth Management LLC boosted its holdings in Energy Transfer by 43.6% during the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company's stock valued at $40,000 after acquiring an additional 750 shares during the period. Institutional investors own 38.22% of the company's stock.

Analyst Upgrades and Downgrades

ET has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on Energy Transfer from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. UBS Group upped their price target on Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Royal Bank of Canada raised their price objective on shares of Energy Transfer from $20.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Bank of America assumed coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a "buy" rating and a $20.00 target price for the company. Finally, Barclays boosted their price objective 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. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Energy Transfer presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.55.

Energy Transfer Price Performance

ET traded down $0.12 during midday trading on Tuesday, reaching $19.50. 9,661,045 shares of the company's stock were exchanged, compared to its average volume of 15,252,904. The business has a 50-day simple moving average of $18.48 and a two-hundred day simple moving average of $16.96. The company has a quick ratio of 0.88, a current ratio of 1.08 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $66.77 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 0.63 and a beta of 1.70. Energy Transfer LP has a one year low of $13.60 and a one year high of $20.02.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported $0.32 earnings per share for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.90% and a return on equity of 12.38%. The company had revenue of $20.77 billion during the quarter, compared to analyst estimates of $21.59 billion. During the same quarter last year, the business posted $0.31 earnings per share. The company's revenue was up .2% on a year-over-year basis. As a group, research analysts predict that Energy Transfer LP will post 1.32 EPS 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 issued a dividend of $0.3225 per share. This represents a $1.29 dividend on an annualized basis and a yield of 6.62%. The ex-dividend date of this dividend was Friday, November 8th. Energy Transfer's dividend payout ratio is presently 94.85%.

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.