Chase Investment Counsel Corp Has $704,000 Stock Holdings in Energy Transfer LP (NYSE:ET)

Chase Investment Counsel Corp raised its position in Energy Transfer LP (NYSE:ET) by 1.8% during the fourth quarter, Holdings Channel reports. The firm owned 51,039 shares of the pipeline company’s stock after purchasing an additional 880 shares during the period. Chase Investment Counsel Corp’s holdings in Energy Transfer were worth $704,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ET. Alps Advisors Inc. lifted its position in shares of Energy Transfer by 14.5% in the 3rd quarter. Alps Advisors Inc. now owns 73,666,501 shares of the pipeline company’s stock worth $1,033,541,000 after purchasing an additional 9,341,798 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Energy Transfer by 38.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,621,485 shares of the pipeline company’s stock worth $353,576,000 after purchasing an additional 7,097,074 shares during the period. International Assets Investment Management LLC lifted its position in shares of Energy Transfer by 1,447.6% in the 4th quarter. International Assets Investment Management LLC now owns 3,756,955 shares of the pipeline company’s stock worth $518,460,000 after purchasing an additional 3,514,195 shares during the period. Nomura Holdings Inc. acquired a new position in shares of Energy Transfer during the 3rd quarter valued at $42,932,000. Finally, Barclays PLC lifted its position in shares of Energy Transfer by 31.1% during the 3rd quarter. Barclays PLC now owns 12,378,222 shares of the pipeline company’s stock valued at $173,666,000 after acquiring an additional 2,933,353 shares during the period. Institutional investors and hedge funds own 38.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ET shares. UBS Group dropped their target price on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 15th. Mizuho reiterated a “buy” rating and set a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Finally, Citigroup boosted their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Energy Transfer has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Energy Transfer Stock Up 0.3 %

Shares of NYSE:ET traded up $0.05 during mid-day trading on Monday, hitting $16.01. 3,978,817 shares of the company traded hands, compared to its average volume of 12,179,388. The stock has a market cap of $53.94 billion, a P/E ratio of 14.68 and a beta of 1.64. The company has a current ratio of 1.10, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. Energy Transfer LP has a 12-month low of $12.18 and a 12-month high of $16.07. The stock has a 50-day moving average price of $15.36 and a two-hundred day moving average price of $14.33.

Energy Transfer (NYSE:ET) last announced its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.08. The company had revenue of $20.53 billion for the quarter, compared to analysts’ expectations of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. Energy Transfer’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 earnings per share. On average, equities research analysts forecast that Energy Transfer LP will post 1.57 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 13th will be paid a $0.317 dividend. The ex-dividend date is Friday, May 10th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. This represents a $1.27 annualized dividend and a dividend yield of 7.92%. Energy Transfer’s payout ratio is presently 115.60%.

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.