Chicago Partners Investment Group LLC Boosts Stake in Energy Transfer LP (NYSE:ET)

Chicago Partners Investment Group LLC boosted its holdings in Energy Transfer LP (NYSE:ET) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,220,289 shares of the pipeline company’s stock after acquiring an additional 153,791 shares during the quarter. Energy Transfer comprises approximately 1.8% of Chicago Partners Investment Group LLC’s portfolio, making the stock its 11th biggest holding. Chicago Partners Investment Group LLC owned about 0.10% of Energy Transfer worth $52,748,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norden Group LLC acquired a new stake in shares of Energy Transfer in the 1st quarter worth approximately $384,000. Private Advisor Group LLC boosted its position in Energy Transfer by 18.5% during the first quarter. Private Advisor Group LLC now owns 495,391 shares of the pipeline company’s stock worth $7,793,000 after purchasing an additional 77,444 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Energy Transfer by 8.6% in the first quarter. Sequoia Financial Advisors LLC now owns 35,531 shares of the pipeline company’s stock valued at $559,000 after purchasing an additional 2,804 shares during the last quarter. Mission Wealth Management LP increased its position in shares of Energy Transfer by 54.9% in the first quarter. Mission Wealth Management LP now owns 29,053 shares of the pipeline company’s stock valued at $457,000 after buying an additional 10,294 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Energy Transfer by 4.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 499,752 shares of the pipeline company’s stock worth $7,861,000 after buying an additional 20,786 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Royal Bank of Canada increased their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. UBS Group increased their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Bank of America started coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective for the company. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $20.00.

Insider Buying and Selling at Energy Transfer

In other news, CEO Thomas E. Long bought 20,000 shares of Energy Transfer stock in a transaction on Monday, August 12th. The shares were bought at an average price of $15.68 per share, with a total value of $313,600.00. Following the acquisition, the chief executive officer now directly owns 4,308,859 shares in the company, valued at approximately $67,562,909.12. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Thomas E. Long bought 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the transaction, the chief executive officer now directly owns 4,308,859 shares of the company’s stock, valued at approximately $67,562,909.12. This represents a 0.00 % increase in their position. The transaction 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 business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $15.68 per share, with a total value of $47,040,000.00. Following the completion of the acquisition, the director now directly owns 123,385,650 shares in the company, valued at $1,934,686,992. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 3,040,000 shares of company stock valued at $47,667,200 over the last 90 days. 3.28% of the stock is owned by corporate insiders.

Energy Transfer Stock Performance

Shares of ET opened at $16.43 on Friday. The company has a market capitalization of $56.21 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.50 and a beta of 1.66. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.92 and a current ratio of 1.14. Energy Transfer LP has a 1 year low of $13.01 and a 1 year high of $16.64. The company’s 50 day simple moving average is $16.19 and its 200 day simple moving average is $15.99.

Energy Transfer (NYSE:ET) last issued its quarterly earnings results 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 business had revenue of $20.73 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. On average, sell-side analysts predict that Energy Transfer LP will post 1.35 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be given a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 7.85%. The ex-dividend date is Friday, November 8th. Energy Transfer’s payout ratio is 107.56%.

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.