Catalyst Capital Advisors LLC Buys 128,053 Shares of Energy Transfer LP (NYSE:ET)

Catalyst Capital Advisors LLC lifted its holdings in Energy Transfer LP (NYSE:ET) by 7.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,834,036 shares of the pipeline company’s stock after purchasing an additional 128,053 shares during the quarter. Energy Transfer comprises about 0.7% of Catalyst Capital Advisors LLC’s portfolio, making the stock its 26th biggest position. Catalyst Capital Advisors LLC owned approximately 0.05% of Energy Transfer worth $29,436,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ET. Norden Group LLC purchased a new position in shares of Energy Transfer in the 1st quarter valued at about $384,000. Sequoia Financial Advisors LLC increased its stake in shares of Energy Transfer by 8.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 35,531 shares of the pipeline company’s stock valued at $559,000 after purchasing an additional 2,804 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Energy Transfer by 4.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 499,752 shares of the pipeline company’s stock worth $7,861,000 after buying an additional 20,786 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Energy Transfer during the 1st quarter worth approximately $1,159,000. Finally, Rehmann Capital Advisory Group increased its stake in Energy Transfer by 2.0% during the 1st quarter. Rehmann Capital Advisory Group now owns 32,080 shares of the pipeline company’s stock worth $505,000 after buying an additional 633 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

Energy Transfer Stock Performance

NYSE ET opened at $16.51 on Tuesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. Energy Transfer LP has a 1 year low of $13.01 and a 1 year high of $16.64. The company has a market capitalization of $56.50 billion, a PE ratio of 13.87, a P/E/G ratio of 0.50 and a beta of 1.66. The company has a fifty day moving average of $16.20 and a two-hundred day moving average of $16.01.

Energy Transfer (NYSE:ET) last announced its earnings results 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). Energy Transfer had a return on equity of 12.74% and a net margin of 5.19%. The business had revenue of $20.73 billion for the quarter, compared to analyst estimates of $22.01 billion. During the same quarter last year, the company posted $0.25 EPS. Energy Transfer’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, 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 announced a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.3225 per share. The ex-dividend date is Friday, November 8th. This represents a $1.29 annualized dividend and a dividend yield of 7.81%. Energy Transfer’s dividend payout ratio (DPR) is 107.56%.

Analysts Set New Price Targets

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

Insider Transactions at Energy Transfer

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

About Energy Transfer

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.