Catalyst Capital Advisors LLC Increases Holdings in Energy Transfer LP (NYSE:ET)

Catalyst Capital Advisors LLC increased its holdings in shares of Energy Transfer LP (NYSE:ET) by 7.5% in the third quarter, Holdings Channel reports. The firm owned 1,834,036 shares of the pipeline company’s stock after acquiring an additional 128,053 shares during the period. Energy Transfer makes up 0.7% of Catalyst Capital Advisors LLC’s portfolio, making the stock its 26th biggest position. Catalyst Capital Advisors LLC’s holdings in Energy Transfer were worth $29,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC boosted its position in Energy Transfer by 65.0% in the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company’s stock valued at $26,000 after buying an additional 650 shares during the last quarter. LRI Investments LLC purchased a new position in Energy Transfer in the 1st quarter valued at about $29,000. HWG Holdings LP purchased a new position in Energy Transfer in the 2nd quarter valued at about $33,000. Sugarloaf Wealth Management LLC boosted its position in Energy Transfer by 43.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company’s stock valued at $40,000 after buying an additional 750 shares during the last quarter. Finally, EdgeRock Capital LLC purchased a new position in Energy Transfer in the 2nd quarter valued at about $42,000. 38.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ET has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of Energy Transfer from $19.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They issued a “buy” rating and a $20.00 target price on the stock. Finally, UBS Group upped their target price on shares of Energy Transfer from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $20.00.

Insider Buying and Selling

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

Energy Transfer Price Performance

ET opened at $16.51 on Tuesday. The firm has a market cap of $56.50 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a fifty-two week low of $13.01 and a fifty-two week high of $16.64. The company’s 50-day moving average price is $16.20 and its 200 day moving average price is $16.01. The company has a quick ratio of 0.92, a current ratio of 1.14 and a debt-to-equity ratio of 1.38.

Energy Transfer (NYSE:ET) last released its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. Energy Transfer’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 EPS. As a group, sell-side analysts expect that Energy Transfer LP will post 1.35 earnings per share for the current year.

Energy Transfer Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Friday, November 8th will be paid a dividend of $0.3225 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.29 annualized dividend and a yield of 7.81%. Energy Transfer’s dividend payout ratio (DPR) is 107.56%.

Energy Transfer 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.