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

Chase Investment Counsel Corp increased its stake in shares of Energy Transfer LP (NYSE:ET) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,039 shares of the pipeline company’s stock after buying 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 large investors also recently added to or reduced their stakes in the business. Rise Advisors LLC raised its holdings in Energy Transfer by 88.2% during the 4th quarter. Rise Advisors LLC now owns 1,978 shares of the pipeline company’s stock worth $27,000 after buying an additional 927 shares during the period. Harbor Investment Advisory LLC raised its holdings in shares of Energy Transfer by 42.9% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,500 shares of the pipeline company’s stock valued at $34,000 after purchasing an additional 750 shares during the last quarter. BluePath Capital Management LLC acquired a new stake in shares of Energy Transfer in the third quarter valued at approximately $37,000. Community Bank N.A. raised its holdings in shares of Energy Transfer by 55.9% in the fourth quarter. Community Bank N.A. now owns 2,651 shares of the pipeline company’s stock valued at $37,000 after purchasing an additional 951 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of Energy Transfer in the fourth quarter valued at $40,000. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ET has been the subject of several analyst reports. Citigroup raised their target price on shares of Energy Transfer from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Mizuho reissued a “buy” rating and issued a $19.00 target price (up previously from $18.00) on shares of Energy Transfer in a research report on Thursday, April 18th. Finally, UBS Group reduced their target price on shares of Energy Transfer from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 15th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Energy Transfer Price Performance

ET stock traded up $0.05 during midday trading on Monday, reaching $16.01. The company had a trading volume of 3,978,817 shares, compared to its average volume of 12,179,388. The company has a market capitalization of $53.94 billion, a price-to-earnings ratio of 14.68 and a beta of 1.64. The stock has a 50 day moving average price of $15.36 and a 200-day moving average price of $14.33. Energy Transfer LP has a 1-year low of $12.18 and a 1-year high of $16.07. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.10 and a quick ratio of 0.88.

Energy Transfer (NYSE:ET) last issued its earnings results on Wednesday, February 14th. The pipeline company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.29 by $0.08. The firm had revenue of $20.53 billion during the quarter, compared to the consensus estimate of $21.46 billion. Energy Transfer had a return on equity of 12.17% and a net margin of 4.85%. The business’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. Equities research analysts expect that Energy Transfer LP will post 1.57 earnings per share for the current year.

Energy Transfer Increases Dividend

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

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.