Energy Transfer LP $ET Shares Bought by Caitlin John LLC

Key Points

• Caitlin John LLC increased its holdings in Energy Transfer LP by 56.7%, now owning 48,793 shares valued at approximately $907,000, making it the firm's 26th largest position.
• Energy Transfer recently announced a quarterly dividend of $0.33 per share, representing an annualized yield of 7.5%, although the dividend payout ratio is notably high at 102.33%.
• Wall Street analysts generally maintain a "Moderate Buy" consensus on Energy Transfer, with a collective price target of $22.75 per share, reflecting confidence in the company's growth potential.

Caitlin John LLC boosted its position in shares of Energy Transfer LP (NYSE:ET - Free Report) by 56.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,793 shares of the pipeline company's stock after buying an additional 17,664 shares during the period. Energy Transfer accounts for approximately 0.9% of Caitlin John LLC's portfolio, making the stock its 26th biggest holding. Caitlin John LLC's holdings in Energy Transfer were worth $907,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its position in Energy Transfer by 12.9% during the first quarter. Alps Advisors Inc. now owns 75,353,994 shares of the pipeline company's stock worth $1,400,831,000 after buying an additional 8,613,645 shares during the period. Tortoise Capital Advisors L.L.C. grew its holdings in Energy Transfer by 2.6% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 38,205,495 shares of the pipeline company's stock worth $710,240,000 after acquiring an additional 951,656 shares during the period. Kayne Anderson Capital Advisors LP grew its holdings in Energy Transfer by 0.8% during the first quarter. Kayne Anderson Capital Advisors LP now owns 24,170,455 shares of the pipeline company's stock worth $449,329,000 after acquiring an additional 182,705 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Energy Transfer by 5.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,776,221 shares of the pipeline company's stock worth $387,416,000 after acquiring an additional 1,093,381 shares during the period. Finally, Westwood Holdings Group Inc. grew its holdings in Energy Transfer by 2.8% during the first quarter. Westwood Holdings Group Inc. now owns 16,787,080 shares of the pipeline company's stock worth $312,072,000 after acquiring an additional 455,860 shares during the period. Institutional investors and hedge funds own 38.22% of the company's stock.

Insider Activity

In other Energy Transfer news, Director Kelcy L. Warren bought 1,350,000 shares of Energy Transfer stock in a transaction that occurred on Wednesday, August 20th. The shares were purchased at an average cost of $17.36 per share, for a total transaction of $23,436,000.00. Following the completion of the transaction, the director owned 69,178,477 shares of the company's stock, valued at $1,200,938,360.72. This represents a 1.99% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Richard Perry sold 1,369 shares of the stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $18.48, for a total value of $25,299.12. Following the transaction, the director owned 24,523 shares in the company, valued at $453,185.04. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ET shares. JPMorgan Chase & Co. decreased their target price on Energy Transfer from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. Wells Fargo & Company reissued an "overweight" rating and issued a $23.00 price objective (up from $21.00) on shares of Energy Transfer in a research note on Tuesday, August 12th. TD Cowen assumed 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. Cowen initiated coverage on shares of Energy Transfer in a research note on Monday, July 7th. They issued a "buy" rating on the stock. Finally, Mizuho upped their price objective on Energy Transfer from $22.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, May 20th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.75.

Energy Transfer Stock Up 0.4%

Shares of NYSE:ET opened at $17.5250 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.15 and a debt-to-equity ratio of 1.44. Energy Transfer LP has a 52-week low of $14.60 and a 52-week high of $21.45. The stock's fifty day simple moving average is $17.67 and its 200-day simple moving average is $17.91. The company has a market capitalization of $60.16 billion, a P/E ratio of 13.59, a P/E/G ratio of 0.92 and a beta of 0.83.

Energy Transfer (NYSE:ET - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32. Energy Transfer had a return on equity of 11.08% and a net margin of 5.80%.The business had revenue of $19.24 billion for the quarter, compared to the consensus estimate of $24.07 billion. During the same period in the prior year, the business earned $0.35 earnings per share. The business's revenue was down 7.2% on a year-over-year basis. As a group, equities research analysts forecast that Energy Transfer LP will post 1.46 earnings per share for the current fiscal year.

Energy Transfer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Friday, August 8th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 7.5%. This is a boost from Energy Transfer's previous quarterly dividend of $0.33. The ex-dividend date was Friday, August 8th. Energy Transfer's dividend payout ratio (DPR) is currently 102.33%.

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.

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