Chapin Davis Inc. Cuts Holdings in Energy Transfer LP (NYSE:ET)

Chapin Davis Inc. reduced its position in shares of Energy Transfer LP (NYSE:ET) by 1.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,411 shares of the pipeline company’s stock after selling 1,417 shares during the quarter. Chapin Davis Inc.’s holdings in Energy Transfer were worth $1,690,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Northwest Financial Advisors acquired a new stake in Energy Transfer in the fourth quarter valued at approximately $25,000. Rise Advisors LLC lifted its position in shares of Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock valued at $27,000 after buying an additional 927 shares in the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new stake in Energy Transfer in the 4th quarter valued at $33,000. Harbor Investment Advisory LLC increased its holdings in Energy Transfer by 42.9% in the 4th quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock worth $34,000 after acquiring an additional 750 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in Energy Transfer during the fourth quarter worth $34,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ET. Morgan Stanley upped their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Monday, June 10th. Mizuho increased their target price on Energy Transfer from $19.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Stifel Nicolaus lifted their price target on Energy Transfer from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, May 9th. UBS Group upped their price objective on shares of Energy Transfer from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Energy Transfer has an average rating of “Moderate Buy” and a consensus price target of $19.29.

Energy Transfer Stock Performance

Shares of ET stock opened at $16.29 on Monday. Energy Transfer LP has a one year low of $12.46 and a one year high of $16.40. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.18. The firm’s 50 day moving average price is $15.73 and its 200-day moving average price is $15.02. The firm has a market cap of $54.90 billion, a P/E ratio of 14.88, a P/E/G ratio of 0.44 and a beta of 1.66.

Energy Transfer (NYSE:ET) last posted its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04). Energy Transfer had a net margin of 4.85% and a return on equity of 12.22%. The firm had revenue of $21.63 billion during the quarter, compared to analysts’ expectations of $20.91 billion. During the same quarter in the prior year, the firm posted $0.32 EPS. Energy Transfer’s quarterly revenue was up 13.9% compared to the same quarter last year. As a group, equities research analysts predict that Energy Transfer LP will post 1.45 EPS for the current year.

Energy Transfer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were issued a $0.317 dividend. The ex-dividend date was Friday, May 10th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.78%. This is a boost from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s payout ratio is 116.51%.

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.