Chickasaw Capital Management LLC Sells 82,063 Shares of Energy Transfer LP (NYSE:ET)

Chickasaw Capital Management LLC cut its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,656,531 shares of the pipeline company's stock after selling 82,063 shares during the period. Energy Transfer makes up 11.2% of Chickasaw Capital Management LLC's investment portfolio, making the stock its 3rd biggest holding. Chickasaw Capital Management LLC owned 0.46% of Energy Transfer worth $291,055,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ET. HBW Advisory Services LLC grew its holdings in Energy Transfer by 12.2% during the first quarter. HBW Advisory Services LLC now owns 31,029 shares of the pipeline company's stock valued at $577,000 after purchasing an additional 3,371 shares during the last quarter. Lbmc Investment Advisors LLC acquired a new position in Energy Transfer in the 1st quarter valued at $248,000. Harbor Investment Advisory LLC raised its holdings in Energy Transfer by 360.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 11,501 shares of the pipeline company's stock worth $214,000 after acquiring an additional 9,001 shares during the period. Strong Tower Advisory Services acquired a new position in Energy Transfer during the 1st quarter worth $2,604,000. Finally, NBC Securities Inc. lifted its position in Energy Transfer by 98,840.0% during the 1st quarter. NBC Securities Inc. now owns 59,364 shares of the pipeline company's stock worth $1,103,000 after acquiring an additional 59,304 shares during the last quarter. 38.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ET. Stifel Nicolaus lifted their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. reduced their price objective on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $23.00 target price on shares of Energy Transfer in a research report on Tuesday, March 25th. UBS Group reissued a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. Finally, Morgan Stanley boosted their price objective on shares of Energy Transfer from $20.00 to $26.00 and gave the stock an "overweight" rating in a report on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.64.

Energy Transfer Price Performance

NYSE ET traded up $0.12 on Thursday, reaching $17.65. The company's stock had a trading volume of 12,199,599 shares, compared to its average volume of 15,508,088. Energy Transfer LP has a 52 week low of $14.60 and a 52 week high of $21.45. The company has a current ratio of 1.12, a quick ratio of 0.88 and a debt-to-equity ratio of 1.42. The firm has a market cap of $60.56 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.64 and a beta of 0.77. The business has a 50-day moving average price of $17.23 and a 200 day moving average price of $18.62.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The company had revenue of $21.02 billion for the quarter, compared to the consensus estimate of $22.28 billion. Energy Transfer had a return on equity of 11.56% and a net margin of 5.74%. The company's quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. Sell-side analysts expect that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 9th were paid a dividend of $0.3275 per share. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. This represents a $1.31 annualized dividend and a yield of 7.42%. The ex-dividend date of this dividend was Friday, May 9th. Energy Transfer's dividend payout ratio is currently 99.24%.

Energy Transfer Company 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.