Chelsea Counsel Co. Acquires New Holdings in Energy Transfer LP $ET

Key Points

• Chelsea Counsel Co. has acquired a new stake in Energy Transfer LP, purchasing 20,000 shares valued at approximately $372,000 during the first quarter.
• Energy Transfer's recent earnings report revealed a net revenue of $19.24 billion for the quarter, lower than the expected $24.07 billion, with the company reporting $0.32 earnings per share.
• The company announced an increase in its quarterly dividend to $0.33 per share, resulting in an annualized dividend yield of 7.6%.

Chelsea Counsel Co. purchased a new stake in Energy Transfer LP (NYSE:ET - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 20,000 shares of the pipeline company's stock, valued at approximately $372,000.

Several other hedge funds also recently bought and sold shares of the stock. Capital A Wealth Management LLC purchased a new stake in shares of Energy Transfer in the fourth quarter valued at $26,000. Fourth Dimension Wealth LLC acquired a new position in Energy Transfer in the 4th quarter valued at $29,000. Vision Financial Markets LLC purchased a new position in shares of Energy Transfer during the 1st quarter worth $33,000. Stone House Investment Management LLC acquired a new stake in shares of Energy Transfer during the first quarter worth $38,000. Finally, HWG Holdings LP acquired a new position in Energy Transfer in the first quarter valued at $38,000. Hedge funds and other institutional investors own 38.22% of the company's stock.

Energy Transfer Stock Up 1.3%

Shares of ET stock opened at $17.39 on Wednesday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. The stock has a market cap of $59.68 billion, a PE ratio of 13.47, a price-to-earnings-growth ratio of 0.98 and a beta of 0.85. The business's fifty day moving average is $17.58 and its 200-day moving average is $17.69. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $19.24 billion for the quarter, compared to analysts' expectations of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. Energy Transfer's revenue for the quarter was down 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 earnings per share. Equities analysts expect that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Friday, August 8th were issued a $0.33 dividend. The ex-dividend date was Friday, August 8th. This is an increase from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.6%. Energy Transfer's dividend payout ratio is currently 102.33%.

Insiders Place Their Bets

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the sale, the director directly owned 24,523 shares of the company's stock, valued at $453,185.04. The trade was a 5.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kelcy L. Warren purchased 1,350,000 shares of the business's stock in a transaction dated Wednesday, August 20th. The shares were acquired at an average price of $17.36 per share, for a total transaction of $23,436,000.00. Following the acquisition, the director directly owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The disclosure for this purchase can be found here. Insiders own 3.28% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. TD Cowen assumed coverage on shares of Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating and a $22.00 target price for the company. Morgan Stanley reduced their target price on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 26th. Wells Fargo & Company reissued an "overweight" rating and issued a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating for the company. Finally, Scotiabank started coverage on shares of Energy Transfer in a research note on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 price objective on the stock. Thirteen analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.54.

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.

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