Energy Transfer LP (NYSE:ET) Shares Sold by Chiron Investment Management LLC

Chiron Investment Management LLC lessened its holdings in shares of Energy Transfer LP (NYSE:ET) by 30.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 343,777 shares of the pipeline company’s stock after selling 151,862 shares during the quarter. Energy Transfer accounts for about 1.9% of Chiron Investment Management LLC’s investment portfolio, making the stock its 21st largest holding. Chiron Investment Management LLC’s holdings in Energy Transfer were worth $5,518,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Geode Capital Management LLC grew its position in Energy Transfer by 4.2% in the third quarter. Geode Capital Management LLC now owns 126,331 shares of the pipeline company’s stock valued at $2,028,000 after acquiring an additional 5,127 shares in the last quarter. MidWestOne Financial Group Inc. raised its stake in shares of Energy Transfer by 12.9% in the 3rd quarter. MidWestOne Financial Group Inc. now owns 79,597 shares of the pipeline company’s stock valued at $1,278,000 after acquiring an additional 9,065 shares in the last quarter. M&T Bank Corp raised its stake in shares of Energy Transfer by 14.6% in the 3rd quarter. M&T Bank Corp now owns 174,368 shares of the pipeline company’s stock valued at $2,799,000 after acquiring an additional 22,155 shares in the last quarter. Executive Wealth Management LLC bought a new position in Energy Transfer in the 3rd quarter worth approximately $263,000. Finally, Continuum Advisory LLC increased its position in Energy Transfer by 44.8% in the 3rd quarter. Continuum Advisory LLC now owns 2,357 shares of the pipeline company’s stock worth $40,000 after buying an additional 729 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Bank of America assumed coverage on Energy Transfer in a research report on Thursday, October 17th. They set a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada upped their price target on Energy Transfer from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday. Finally, UBS Group upped their price objective on Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Energy Transfer has an average rating of “Buy” and a consensus target price of $20.38.

Energy Transfer Stock Performance

Shares of NYSE ET opened at $18.74 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 0.88 and a debt-to-equity ratio of 1.40. Energy Transfer LP has a 12 month low of $13.11 and a 12 month high of $20.02. The stock has a 50 day moving average of $17.35 and a 200-day moving average of $16.44. The company has a market capitalization of $64.16 billion, a P/E ratio of 13.78, a P/E/G ratio of 0.63 and a beta of 1.70.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. Energy Transfer had a return on equity of 12.38% and a net margin of 5.90%. The company had revenue of $20.77 billion during the quarter, compared to the consensus estimate of $21.59 billion. During the same period in the previous year, the company posted $0.31 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts predict that Energy Transfer LP will post 1.32 EPS for the current year.

Energy Transfer Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 19th. Investors of record on Friday, November 8th were paid a $0.3225 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 6.88%. Energy Transfer’s dividend payout ratio (DPR) is presently 94.85%.

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.