Chase Investment Counsel Corp Has $1.68 Million Position in Energy Transfer LP $ET

Chase Investment Counsel Corp lessened its position in Energy Transfer LP (NYSE:ET) by 60.1% in the first quarter, HoldingsChannel.com reports. The fund owned 86,872 shares of the pipeline company’s stock after selling 131,062 shares during the period. Chase Investment Counsel Corp’s holdings in Energy Transfer were worth $1,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Morgan Stanley raised its holdings in shares of Energy Transfer by 41.6% in the 4th quarter. Morgan Stanley now owns 86,310,272 shares of the pipeline company’s stock valued at $1,423,256,000 after purchasing an additional 25,366,594 shares during the period. Alps Advisors Inc. grew its holdings in Energy Transfer by 8.0% during the fourth quarter. Alps Advisors Inc. now owns 83,843,087 shares of the pipeline company’s stock worth $1,382,573,000 after purchasing an additional 6,192,066 shares during the period. Invesco Ltd. increased its position in Energy Transfer by 3.2% during the third quarter. Invesco Ltd. now owns 57,862,666 shares of the pipeline company’s stock worth $992,923,000 after buying an additional 1,773,042 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its position in Energy Transfer by 0.3% during the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 38,675,828 shares of the pipeline company’s stock worth $637,764,000 after buying an additional 103,245 shares during the last quarter. Finally, Energy Income Partners LLC raised its stake in Energy Transfer by 1.4% in the third quarter. Energy Income Partners LLC now owns 23,351,183 shares of the pipeline company’s stock valued at $400,706,000 after buying an additional 326,653 shares during the period. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Energy Transfer Stock Down 0.1%

Energy Transfer stock opened at $20.25 on Wednesday. The company’s 50-day moving average price is $19.53 and its two-hundred day moving average price is $18.91. The company has a quick ratio of 0.93, a current ratio of 1.17 and a debt-to-equity ratio of 1.50. The stock has a market cap of $69.70 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.17 and a beta of 0.55. Energy Transfer LP has a twelve month low of $16.18 and a twelve month high of $20.70.

Energy Transfer (NYSE:ET) last issued its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.05). Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The firm had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $25.78 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The company’s revenue was up 32.1% on a year-over-year basis. As a group, analysts expect that Energy Transfer LP will post 1.43 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a dividend of $0.3375 per share. This represents a $1.35 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend was Friday, May 8th. This is an increase from Energy Transfer’s previous quarterly dividend of $0.34. Energy Transfer’s payout ratio is 112.50%.

Analysts Set New Price Targets

ET has been the subject of a number of recent analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Energy Transfer in a research report on Wednesday, May 6th. Citigroup reissued a “buy” rating and set a $23.00 target price (up from $22.00) on shares of Energy Transfer in a report on Thursday, May 7th. Barclays restated an “overweight” rating and issued a $23.00 price target (up from $22.00) on shares of Energy Transfer in a research note on Thursday, May 14th. Scotiabank reaffirmed an “outperform” rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $23.50.

Energy Transfer Company Profile

Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.