Chiron Capital Management LLC Sells 21,775 Shares of Energy Transfer LP $ET

Chiron Capital Management LLC lowered its holdings in Energy Transfer LP (NYSE:ET) by 31.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,661 shares of the pipeline company’s stock after selling 21,775 shares during the period. Chiron Capital Management LLC’s holdings in Energy Transfer were worth $867,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new stake in Energy Transfer in the 4th quarter valued at about $26,000. Fourth Dimension Wealth LLC bought a new stake in shares of Energy Transfer during the 4th quarter worth approximately $29,000. Vision Financial Markets LLC bought a new stake in shares of Energy Transfer during the 1st quarter worth approximately $33,000. Stone House Investment Management LLC bought a new stake in shares of Energy Transfer during the 1st quarter worth approximately $38,000. Finally, HWG Holdings LP bought a new stake in shares of Energy Transfer during the 1st quarter worth approximately $38,000. Institutional investors own 38.22% of the company’s stock.

Insider Activity at Energy Transfer

In other Energy Transfer news, Director James Richard Perry sold 1,369 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The shares were 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 in the company, valued at approximately $453,185.04. This represents a 5.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kelcy L. Warren purchased 1,350,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was acquired at an average price of $17.36 per share, with a total value of $23,436,000.00. Following the completion of the transaction, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.28% of the company’s stock.

Energy Transfer Price Performance

ET stock opened at $17.73 on Tuesday. The company has a 50 day simple moving average of $17.64 and a 200 day simple moving average of $17.78. The stock has a market cap of $60.84 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 0.93 and a beta of 0.85. Energy Transfer LP has a 1 year low of $14.60 and a 1 year high of $21.45. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.15 and a quick ratio of 0.92.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The firm had revenue of $19.24 billion during the quarter, compared to analysts’ expectations of $24.07 billion. During the same period in the prior year, the company posted $0.35 EPS. The company’s revenue was down 7.2% on a year-over-year basis. Research analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Friday, August 8th were given a $0.33 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. This represents a $1.32 annualized dividend and a yield of 7.4%. Energy Transfer’s dividend payout ratio is currently 102.33%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Cowen assumed coverage on shares of Energy Transfer in a report on Monday, July 7th. They set a “buy” rating for the company. Morgan Stanley cut their price target on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Tuesday, August 26th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a report on Tuesday, August 12th. Mizuho upped their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 20th. Finally, TD Cowen started coverage on shares of Energy Transfer in a research report on Monday, July 7th. They set a “buy” rating and a $22.00 price objective for the company. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Energy Transfer presently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

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.