Chicago Partners Investment Group LLC Has $52.75 Million Holdings in Energy Transfer LP (NYSE:ET)

Chicago Partners Investment Group LLC boosted its stake in shares of Energy Transfer LP (NYSE:ET) by 5.0% in the third quarter, Holdings Channel reports. The firm owned 3,220,289 shares of the pipeline company’s stock after acquiring an additional 153,791 shares during the period. Energy Transfer comprises about 1.8% of Chicago Partners Investment Group LLC’s holdings, making the stock its 11th biggest position. Chicago Partners Investment Group LLC’s holdings in Energy Transfer were worth $52,748,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. LRI Investments LLC acquired a new stake in Energy Transfer during the 1st quarter valued at $29,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer in the 2nd quarter valued at approximately $33,000. Sugarloaf Wealth Management LLC raised its holdings in Energy Transfer by 43.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock worth $40,000 after purchasing an additional 750 shares during the period. Hudson Edge Investment Partners Inc. bought a new position in shares of Energy Transfer during the second quarter worth $42,000. Finally, EdgeRock Capital LLC acquired a new position in shares of Energy Transfer in the 2nd quarter valued at approximately $42,000. 38.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ET. UBS Group increased their target price on Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Royal Bank of Canada upped their price objective on Energy Transfer from $19.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Bank of America initiated coverage on shares of Energy Transfer in a research report on Thursday, October 17th. They issued 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 has an average rating of “Buy” and a consensus price target of $20.00.

Insider Activity at Energy Transfer

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

Energy Transfer Stock Performance

ET opened at $16.43 on Friday. The firm has a market cap of $56.21 billion, a P/E ratio of 13.80, a price-to-earnings-growth 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 52-week low of $13.01 and a 52-week high of $16.64. The business’s fifty day moving average is $16.19 and its 200-day moving average is $15.99.

Energy Transfer (NYSE:ET) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The firm had revenue of $20.73 billion during the quarter, compared to analyst estimates of $22.01 billion. During the same quarter in the previous year, the firm earned $0.25 EPS. Energy Transfer’s quarterly revenue was up 13.1% on a year-over-year basis. Sell-side analysts expect that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Cuts Dividend

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

About Energy Transfer

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.