Chesley Taft & Associates LLC Sells 19,050 Shares of Energy Transfer LP (NYSE:ET)

Chesley Taft & Associates LLC lowered its stake in shares of Energy Transfer LP (NYSE:ET) by 26.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,586 shares of the pipeline company’s stock after selling 19,050 shares during the period. Chesley Taft & Associates LLC’s holdings in Energy Transfer were worth $844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of ET. Tortoise Capital Advisors L.L.C. increased its position in Energy Transfer by 12.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 36,668,846 shares of the pipeline company’s stock worth $594,769,000 after purchasing an additional 4,141,715 shares during the last quarter. First Reserve GP XIII Ltd bought a new stake in Energy Transfer in the fourth quarter worth $322,097,000. Natixis increased its position in Energy Transfer by 20.0% in the first quarter. Natixis now owns 18,020,559 shares of the pipeline company’s stock worth $283,463,000 after purchasing an additional 2,999,300 shares during the last quarter. Westwood Holdings Group Inc. increased its position in Energy Transfer by 1.1% in the second quarter. Westwood Holdings Group Inc. now owns 16,107,470 shares of the pipeline company’s stock worth $261,263,000 after purchasing an additional 171,720 shares during the last quarter. Finally, Chickasaw Capital Management LLC increased its position in Energy Transfer by 2.9% in the second quarter. Chickasaw Capital Management LLC now owns 14,883,956 shares of the pipeline company’s stock worth $241,418,000 after purchasing an additional 425,323 shares during the last quarter. Institutional investors own 38.22% of the company’s stock.

Insider Buying and Selling at Energy Transfer

In related news, CEO Thomas E. Long acquired 20,000 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the completion of the acquisition, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Energy Transfer news, Director Kelcy L. Warren purchased 3,000,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the acquisition, the director now owns 123,385,650 shares in the company, valued at $1,934,686,992. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas E. Long purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 3,040,000 shares of company stock valued at $47,667,200. 3.28% of the stock is currently owned by insiders.

Energy Transfer Stock Performance

ET stock opened at $16.16 on Wednesday. The firm has a market cap of $54.46 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.50 and a beta of 1.66. The firm has a 50-day simple moving average of $16.03 and a two-hundred day simple moving average of $15.90. Energy Transfer LP has a one year low of $12.90 and a one year high of $16.50. 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 (NYSE:ET) last released its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $20.73 billion for the quarter, compared to analysts’ expectations of $22.01 billion. Energy Transfer had a net margin of 5.19% and a return on equity of 12.74%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 earnings per share. On average, equities analysts forecast that Energy Transfer LP will post 1.35 EPS for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 7.92%. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 9th. Energy Transfer’s dividend payout ratio is presently 117.43%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ET shares. Mizuho boosted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. JPMorgan Chase & Co. boosted 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 Thursday, June 20th. Finally, UBS Group boosted their price target on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Energy Transfer has an average rating of “Buy” and an average price target of $20.00.

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.