Catalyst Capital Advisors LLC Sells 75,180 Shares of Energy Transfer LP $ET

Key Points

• Catalyst Capital Advisors LLC reduced its Energy Transfer stake by 3.7% in the first quarter, selling 75,180 shares and leaving it with 1,939,020 shares worth about $37.4 million.
• Wall Street remains upbeat on ET, with an average analyst rating of “Buy” and a consensus price target of $23.55 after several firms reiterated or raised bullish targets.
• Energy Transfer posted mixed quarterly results: revenue beat expectations at $27.77 billion, but EPS came in below estimates at $0.35. The company also raised its quarterly dividend to $0.3375, implying a 6.6% annualized yield.

Catalyst Capital Advisors LLC cut its stake in shares of Energy Transfer LP (NYSE:ET - Free Report) by 3.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,939,020 shares of the pipeline company's stock after selling 75,180 shares during the quarter. Energy Transfer accounts for about 0.7% of Catalyst Capital Advisors LLC's portfolio, making the stock its 27th largest position. Catalyst Capital Advisors LLC owned about 0.06% of Energy Transfer worth $37,423,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new stake in shares of Energy Transfer during the fourth quarter worth $25,000. Gables Capital Management Inc. lifted its stake in shares of Energy Transfer by 60.0% in the 4th quarter. Gables Capital Management Inc. now owns 1,600 shares of the pipeline company's stock valued at $26,000 after acquiring an additional 600 shares during the last quarter. Sarver Vrooman Wealth Advisors acquired a new stake in shares of Energy Transfer during the 4th quarter valued at $32,000. Navalign LLC acquired a new stake in shares of Energy Transfer during the 4th quarter valued at $37,000. Finally, Vermillion Wealth Management Inc. grew its position in Energy Transfer by 69.5% during the 4th quarter. Vermillion Wealth Management Inc. now owns 2,351 shares of the pipeline company's stock worth $39,000 after acquiring an additional 964 shares during the last quarter. 38.22% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on ET shares. Truist Financial assumed coverage on Energy Transfer in a research report on Tuesday, March 24th. They issued a "buy" rating and a $23.00 target price for the company. TD Cowen restated a "buy" rating and set a $24.00 price target (up from $23.00) on shares of Energy Transfer in a report on Thursday. Stifel Nicolaus upped their price objective on Energy Transfer from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Raymond James Financial reiterated a "strong-buy" rating on shares of Energy Transfer in a report on Wednesday, May 6th. Finally, Scotiabank reiterated an "outperform" rating on shares of Energy Transfer in a research report on Tuesday, May 12th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $23.55.

Energy Transfer Trading Up 0.5%

Shares of ET stock opened at $20.30 on Friday. The stock has a market cap of $69.87 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.17 and a beta of 0.55. The stock has a 50-day moving average of $19.52 and a 200-day moving average of $18.84. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. Energy Transfer LP has a 1-year low of $16.18 and a 1-year high of $20.70.

Energy Transfer (NYSE:ET - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.05). The company had revenue of $27.77 billion during the quarter, compared to analyst estimates of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.Energy Transfer's revenue was up 32.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. On average, equities research analysts forecast that Energy Transfer LP will post 1.43 earnings per share for the current year.

Energy Transfer Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a $0.3375 dividend. This is an increase from Energy Transfer's previous quarterly dividend of $0.34. The ex-dividend date was Friday, May 8th. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.6%. Energy Transfer's dividend payout ratio is presently 112.50%.

Energy Transfer Company Profile

Energy Transfer NYSE: ET is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company's operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.

Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.

Want to see what other hedge funds are holding ET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Energy Transfer LP (NYSE:ET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.