Energy Transfer LP $ET Shares Sold by Chiron Capital Management LLC

Key Points

• Chiron Capital Management LLC has reduced its holding in Energy Transfer LP by 31.8%, owning 46,661 shares valued at $867,000 after selling 21,775 shares in the first quarter.
• Energy Transfer recently announced a quarterly dividend of $0.33 per share, reflecting an annualized yield of 7.4% despite a payout ratio of 102.33%.
• The company reported $19.24 billion in revenue for the last quarter, which was lower than the consensus estimate of $24.07 billion, indicating a year-on-year revenue drop of 7.2%.

Chiron Capital Management LLC lowered its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 31.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,661 shares of the pipeline company's stock after selling 21,775 shares during the quarter. Chiron Capital Management LLC's holdings in Energy Transfer were worth $867,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ET. Capital A Wealth Management LLC purchased a new stake in shares of Energy Transfer during the 4th quarter worth $26,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Energy Transfer in the fourth quarter valued at approximately $29,000. Vision Financial Markets LLC purchased a new position in Energy Transfer during the first quarter worth approximately $33,000. HWG Holdings LP purchased a new stake in shares of Energy Transfer during the 1st quarter valued at about $38,000. Finally, Stone House Investment Management LLC acquired a new stake in Energy Transfer during the 1st quarter valued at $38,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

ET has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price target 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. Scotiabank assumed coverage on Energy Transfer in a research report on Tuesday. They issued a "sector outperform" rating and a $23.00 price target for the company. Wells Fargo & Company restated an "overweight" rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. Cowen began coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a "buy" rating for the company. Finally, Mizuho increased their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Thirteen analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $22.54.

Energy Transfer Trading Down 0.7%

Shares of Energy Transfer stock traded down $0.12 on Wednesday, hitting $17.58. The stock had a trading volume of 9,689,342 shares, compared to its average volume of 15,304,784. The firm has a market capitalization of $60.35 billion, a P/E ratio of 13.63, a PEG ratio of 0.93 and a beta of 0.85. The stock has a 50 day moving average of $17.64 and a 200 day moving average of $17.78. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.92 and a current ratio of 1.15. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45.

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

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.5%. The ex-dividend date was Friday, August 8th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's dividend payout ratio is presently 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.