Choreo LLC Has $1.38 Million Stake in Energy Transfer LP $ET

Choreo LLC raised its holdings in Energy Transfer LP (NYSE:ET) by 30.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,223 shares of the pipeline company’s stock after purchasing an additional 17,779 shares during the period. Choreo LLC’s holdings in Energy Transfer were worth $1,382,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Tortoise Capital Advisors L.L.C. boosted its stake in shares of Energy Transfer by 2.6% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company’s stock valued at $710,240,000 after buying an additional 951,656 shares during the period. Energy Income Partners LLC lifted its position in shares of Energy Transfer by 12.0% during the 1st quarter. Energy Income Partners LLC now owns 23,120,066 shares of the pipeline company’s stock valued at $429,802,000 after acquiring an additional 2,471,401 shares during the period. Westwood Holdings Group Inc. lifted its position in shares of Energy Transfer by 2.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 16,787,080 shares of the pipeline company’s stock valued at $312,072,000 after acquiring an additional 455,860 shares during the period. Chickasaw Capital Management LLC grew its holdings in shares of Energy Transfer by 3.2% during the 2nd quarter. Chickasaw Capital Management LLC now owns 16,158,771 shares of the pipeline company’s stock worth $292,959,000 after purchasing an additional 502,240 shares in the last quarter. Finally, BROOKFIELD Corp ON increased its position in shares of Energy Transfer by 6.4% in the first quarter. BROOKFIELD Corp ON now owns 14,626,020 shares of the pipeline company’s stock worth $271,898,000 after purchasing an additional 875,634 shares during the period. 38.22% of the stock is owned by institutional investors.

Energy Transfer Stock Performance

Shares of Energy Transfer stock opened at $16.69 on Friday. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week 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. The firm has a market capitalization of $57.29 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.01 and a beta of 0.76. The company’s 50 day moving average price is $16.79 and its two-hundred day moving average price is $17.38.

Energy Transfer (NYSE:ET) last announced its quarterly earnings results on Wednesday, November 5th. The pipeline company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.06). Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The company had revenue of $19.95 billion for the quarter, compared to analyst estimates of $21.84 billion. During the same quarter last year, the company posted $0.32 earnings per share. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. On average, equities analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were given a $0.3325 dividend. This is a boost from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 annualized dividend and a yield of 8.0%. The ex-dividend date was Friday, November 7th. Energy Transfer’s dividend payout ratio is 106.40%.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren purchased 1,000,000 shares of Energy Transfer stock in a transaction dated Wednesday, November 19th. The shares were bought at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the acquisition, the director owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. This trade represents a 0.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.28% of the company’s stock.

Wall Street Analyst Weigh In

ET has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Wells Fargo & Company reiterated an “overweight” rating and set a $23.00 price target (up previously from $21.00) on shares of Energy Transfer in a research report on Tuesday, August 12th. Morgan Stanley decreased their price objective on shares of Energy Transfer from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 26th. JPMorgan Chase & Co. cut their target price on Energy Transfer from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, November 24th. Finally, Jefferies Financial Group set a $17.00 target price on Energy Transfer and gave the company a “hold” rating in a report on Tuesday, October 28th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Energy Transfer presently has an average rating of “Moderate Buy” and an average price target of $21.92.

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.