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

Catalyst Capital Advisors LLC increased its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 6.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,072,055 shares of the pipeline company's stock after buying an additional 118,700 shares during the period. Energy Transfer accounts for 0.8% of Catalyst Capital Advisors LLC's holdings, making the stock its 24th biggest position. Catalyst Capital Advisors LLC owned about 0.06% of Energy Transfer worth $38,520,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Avantax Planning Partners Inc. increased its holdings in Energy Transfer by 8.1% in the 1st quarter. Avantax Planning Partners Inc. now owns 30,369 shares of the pipeline company's stock worth $565,000 after acquiring an additional 2,277 shares in the last quarter. Aviance Capital Partners LLC acquired a new stake in shares of Energy Transfer in the first quarter valued at about $487,000. Aurora Private Wealth Inc. grew its position in shares of Energy Transfer by 1.4% in the first quarter. Aurora Private Wealth Inc. now owns 178,935 shares of the pipeline company's stock valued at $3,326,000 after purchasing an additional 2,481 shares during the period. North Capital Inc. purchased a new stake in shares of Energy Transfer during the first quarter worth about $81,000. Finally, D.A. Davidson & CO. raised its position in shares of Energy Transfer by 25.8% during the 1st quarter. D.A. Davidson & CO. now owns 366,659 shares of the pipeline company's stock worth $6,816,000 after purchasing an additional 75,111 shares during the last quarter. 38.22% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on ET. Mizuho lifted their price objective on Energy Transfer from $22.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, May 20th. Wells Fargo & Company decreased their target price on Energy Transfer from $22.00 to $21.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Citigroup reaffirmed a "buy" rating on shares of Energy Transfer in a research note on Monday, March 24th. JPMorgan Chase & Co. reduced their price objective on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, May 19th. Finally, Morgan Stanley raised their price objective on Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a report on Tuesday, March 25th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $22.64.

Energy Transfer Trading Up 0.2%

NYSE ET traded up $0.04 on Friday, reaching $17.94. 7,052,899 shares of the company were exchanged, compared to its average volume of 15,773,436. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The stock has a market capitalization of $61.57 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 0.58 and a beta of 0.79. The business's fifty day moving average price is $17.65 and its 200 day moving average price is $18.47. The company has a current ratio of 1.12, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41.

Energy Transfer (NYSE:ET - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The pipeline company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. The firm had revenue of $21.02 billion during the quarter, compared to analysts' expectations of $22.28 billion. Energy Transfer had a net margin of 5.88% and a return on equity of 11.47%. Energy Transfer's revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. Analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Friday, May 9th were given a dividend of $0.3275 per share. This represents a $1.31 annualized dividend and a dividend yield of 7.30%. The ex-dividend date of this dividend was Friday, May 9th. This is a positive change from Energy Transfer's previous quarterly dividend of $0.33. Energy Transfer's payout ratio is presently 99.24%.

Insider Buying and Selling

In related news, Director James Richard Perry sold 1,369 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the completion of the transaction, the director directly owned 24,523 shares in the company, valued at approximately $453,185.04. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.28% of the company's stock.

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.