Catalyst Capital Advisors LLC Raises Stock Position in Energy Transfer LP $ET

Key Points

• Catalyst Capital Advisors LLC increased its stake in Energy Transfer LP by 4.1%, acquiring an additional 84,350 shares in the second quarter, bringing their total ownership to approximately $39.1 million.
• Energy Transfer received buy ratings from several analysts, with a consensus price target of $22.67 per share and a current market price around $16.85.
• Insider transactions include Director Kelcy L. Warren purchasing 1.35 million shares for $23.4 million, increasing his total ownership in the company significantly.

Catalyst Capital Advisors LLC raised its holdings in shares of Energy Transfer LP (NYSE:ET - Free Report) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,156,405 shares of the pipeline company's stock after acquiring an additional 84,350 shares during the quarter. Energy Transfer makes up 0.8% of Catalyst Capital Advisors LLC's portfolio, making the stock its 25th largest holding. Catalyst Capital Advisors LLC owned 0.06% of Energy Transfer worth $39,096,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ET. Ryan Investment Management Inc. bought a new stake in Energy Transfer in the 2nd quarter valued at $31,000. Vision Financial Markets LLC purchased a new stake in Energy Transfer in the 1st quarter valued at about $33,000. Stone House Investment Management LLC purchased a new stake in Energy Transfer in the 1st quarter valued at about $38,000. N.E.W. Advisory Services LLC purchased a new stake in Energy Transfer in the 1st quarter valued at about $40,000. Finally, Crowley Wealth Management Inc. purchased a new stake in shares of Energy Transfer in the 2nd quarter worth approximately $44,000. 38.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ET shares. Weiss Ratings reissued a "buy (b)" rating on shares of Energy Transfer in a research report on Wednesday, October 8th. Cowen began coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating on the stock. TD Cowen began coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating and a $22.00 price objective on the stock. Morgan Stanley lowered their price target on shares of Energy Transfer from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Tuesday, August 26th. Finally, UBS Group reaffirmed a "buy" rating and set a $22.00 price objective on shares of Energy Transfer in a report on Wednesday, October 15th. Thirteen investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $22.67.

Insider Activity at Energy Transfer

In other news, Director Kelcy L. Warren bought 1,350,000 shares of Energy Transfer stock in a transaction on Wednesday, August 20th. The shares were bought at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the acquisition, the director owned 69,178,477 shares in the company, valued at approximately $1,200,938,360.72. This trade represents a 1.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.28% of the stock is owned by corporate insiders.

Energy Transfer Stock Down 0.4%

Shares of NYSE:ET opened at $16.85 on Friday. The company has a market capitalization of $57.82 billion, a PE ratio of 13.06, a P/E/G ratio of 1.00 and a beta of 0.78. The company has a current ratio of 1.15, a quick ratio of 0.92 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a twelve month low of $14.60 and a twelve month high of $21.45. The firm has a 50 day simple moving average of $17.19 and a 200-day simple moving average of $17.38.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Wednesday, August 6th. The pipeline company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. The business had revenue of $19.24 billion for the quarter, compared to analysts' expectations of $24.07 billion. Energy Transfer had a net margin of 5.80% and a return on equity of 11.08%. The company's quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS. On average, equities analysts predict that Energy Transfer LP will post 1.46 EPS for the current fiscal year.

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.

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