Chase Investment Counsel Corp Purchases 31,246 Shares of Energy Transfer LP (NYSE:ET)

Chase Investment Counsel Corp grew its position in Energy Transfer LP (NYSE:ET - Free Report) by 61.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,285 shares of the pipeline company's stock after acquiring an additional 31,246 shares during the quarter. Chase Investment Counsel Corp's holdings in Energy Transfer were worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ET. Northwest Financial Advisors purchased a new stake in shares of Energy Transfer in the 4th quarter valued at approximately $25,000. LRI Investments LLC bought a new position in Energy Transfer during the first quarter valued at about $29,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Energy Transfer in the 4th quarter worth approximately $33,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $34,000. Finally, EdgeRock Capital LLC bought a new stake in shares of Energy Transfer during the fourth quarter valued at approximately $37,000. 38.22% of the stock is currently owned by institutional investors.

Energy Transfer Trading Up 0.7 %

NYSE:ET traded up $0.12 during mid-day trading on Thursday, hitting $16.04. The company had a trading volume of 15,639,689 shares, compared to its average volume of 13,488,321. Energy Transfer LP has a fifty-two week low of $12.90 and a fifty-two week high of $16.50. 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 $54.04 billion, a P/E ratio of 14.71, a P/E/G ratio of 0.47 and a beta of 1.66. The business's fifty day moving average is $16.11 and its two-hundred day moving average is $15.72.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (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 the consensus estimate of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The firm's quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 earnings per share. As a group, research analysts expect that Energy Transfer LP will post 1.4 earnings per share for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a $0.32 dividend. This is a boost from Energy Transfer's previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. This represents a $1.28 annualized dividend and a yield of 7.98%. Energy Transfer's payout ratio is 117.43%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Energy Transfer from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Wednesday, May 15th. Morgan Stanley upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an "overweight" rating in a research note on Monday, June 10th. Mizuho boosted their price target on Energy Transfer from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, June 18th. Stifel Nicolaus upped their price target on Energy Transfer from $18.00 to $19.00 and gave the company a "buy" rating in a research report on Thursday, May 9th. Finally, JPMorgan Chase & Co. lifted their price objective on Energy Transfer from $19.00 to $20.00 and gave the company an "overweight" rating in a report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $19.29.

Insider Transactions at Energy Transfer

In other news, EVP Gregory G. Mcilwain purchased 20,000 shares of the company's stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $15.68 per share, for a total transaction of $313,600.00. Following the purchase, the executive vice president now owns 591,211 shares of the company's stock, valued at $9,270,188.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Energy Transfer news, EVP Gregory G. Mcilwain bought 20,000 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the transaction, the executive vice president now directly owns 591,211 shares in the company, valued at $9,270,188.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kelcy L. Warren purchased 3,000,000 shares of the company's stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $15.68 per share, for a total transaction of $47,040,000.00. Following the completion of the purchase, the director now owns 123,385,650 shares in the company, valued at approximately $1,934,686,992. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is owned by corporate insiders.

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.