Energy Transfer LP $ET is Chickasaw Capital Management LLC's 2nd Largest Position

Key Points

• Chickasaw Capital Management LLC increased its stake in Energy Transfer LP by 3.2%, owning a total of 16,158,771 shares worth approximately $292,959,000.
• Energy Transfer's dividend was recently boosted to $0.33 per share, resulting in an annualized yield of 7.5%, despite a payout ratio of 102.33%.
• Analyst ratings for Energy Transfer remain positive, with a consensus rating of "Moderate Buy" and a price target of $22.50 following recent updates from multiple firms.

Chickasaw Capital Management LLC boosted its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,158,771 shares of the pipeline company's stock after buying an additional 502,240 shares during the period. Energy Transfer makes up about 11.6% of Chickasaw Capital Management LLC's portfolio, making the stock its 2nd biggest holding. Chickasaw Capital Management LLC owned about 0.47% of Energy Transfer worth $292,959,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dynamic Advisor Solutions LLC lifted its stake in shares of Energy Transfer by 14.3% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 144,850 shares of the pipeline company's stock worth $2,626,000 after acquiring an additional 18,107 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in shares of Energy Transfer by 33.9% during the 2nd quarter. Pallas Capital Advisors LLC now owns 24,727 shares of the pipeline company's stock worth $448,000 after acquiring an additional 6,264 shares during the last quarter. Mirador Capital Partners LP bought a new stake in shares of Energy Transfer during the 2nd quarter worth approximately $919,000. Fermata Advisors LLC lifted its stake in shares of Energy Transfer by 18.4% during the 2nd quarter. Fermata Advisors LLC now owns 13,619 shares of the pipeline company's stock worth $247,000 after acquiring an additional 2,113 shares during the last quarter. Finally, Thrive Wealth Management LLC lifted its stake in shares of Energy Transfer by 2.2% during the 2nd quarter. Thrive Wealth Management LLC now owns 47,034 shares of the pipeline company's stock worth $853,000 after acquiring an additional 1,000 shares during the last quarter. 38.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ET has been the subject of a number of research analyst reports. TD Cowen began coverage on Energy Transfer in a research note on Monday, July 7th. They set a "buy" rating and a $22.00 price target for the company. Scotiabank began coverage on Energy Transfer in a research report on Tuesday, September 2nd. They set a "sector outperform" rating and a $23.00 target price for the company. Morgan Stanley decreased their target price on Energy Transfer from $24.00 to $23.00 and set an "overweight" rating for the company in a research report on Tuesday, August 26th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $23.00 target price (up from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Finally, Cowen initiated coverage on Energy Transfer in a report on Monday, July 7th. They issued a "buy" rating on the stock. Thirteen research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $22.50.

Insider Activity at Energy Transfer

In related news, Director Kelcy L. Warren purchased 1,350,000 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was purchased at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the acquisition, the director owned 69,178,477 shares in the company, valued at $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.28% of the company's stock.

Energy Transfer Stock Performance

Energy Transfer stock traded down $0.09 during mid-day trading on Thursday, hitting $17.44. The company had a trading volume of 14,417,105 shares, compared to its average volume of 9,723,466. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $59.87 billion, a price-to-earnings ratio of 13.52, a P/E/G ratio of 1.00 and a beta of 0.85. The company's fifty day moving average is $17.54 and its 200-day moving average is $17.62. Energy Transfer LP has a 12-month low of $14.60 and a 12-month high of $21.45.

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

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend 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 payout ratio is currently 102.33%.

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.