Callodine Capital Management LP Acquires 225,000 Shares of Energy Transfer LP (NYSE:ET)

Callodine Capital Management LP raised its holdings in Energy Transfer LP (NYSE:ET - Free Report) by 36.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 850,000 shares of the pipeline company's stock after purchasing an additional 225,000 shares during the period. Energy Transfer comprises 3.4% of Callodine Capital Management LP's holdings, making the stock its 10th largest position. Callodine Capital Management LP's holdings in Energy Transfer were worth $16,652,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ET. FMR LLC grew its stake in Energy Transfer by 15.7% during the 4th quarter. FMR LLC now owns 38,634,018 shares of the pipeline company's stock valued at $756,840,000 after acquiring an additional 5,254,721 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its position in shares of Energy Transfer by 7.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 23,987,750 shares of the pipeline company's stock valued at $469,920,000 after acquiring an additional 1,723,683 shares during the last quarter. Chickasaw Capital Management LLC increased its position in Energy Transfer by 2.5% during the fourth quarter. Chickasaw Capital Management LLC now owns 15,738,594 shares of the pipeline company's stock worth $308,319,000 after purchasing an additional 388,073 shares during the last quarter. Bank of Montreal Can boosted its holdings in Energy Transfer by 12,090.8% in the 4th quarter. Bank of Montreal Can now owns 12,455,613 shares of the pipeline company's stock valued at $244,005,000 after purchasing an additional 12,353,441 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Energy Transfer by 10.0% in the 4th quarter. Wells Fargo & Company MN now owns 11,662,581 shares of the pipeline company's stock valued at $228,470,000 after buying an additional 1,058,603 shares during the period. Hedge funds and other institutional investors own 38.22% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on ET shares. Stifel Nicolaus increased their price objective on Energy Transfer from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Citigroup restated a "buy" rating on shares of Energy Transfer in a report on Monday, March 24th. Morgan Stanley boosted their price target on shares of Energy Transfer from $20.00 to $26.00 and gave the company an "overweight" rating in a research note on Tuesday, March 25th. Royal Bank of Canada restated an "outperform" rating and set a $23.00 price target on shares of Energy Transfer in a research report on Tuesday, March 25th. Finally, UBS Group restated a "buy" rating on shares of Energy Transfer in a report on Tuesday, March 4th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.09.

Energy Transfer Stock Performance

Shares of NYSE:ET traded up $0.43 during trading on Tuesday, reaching $16.99. The company had a trading volume of 5,931,970 shares, compared to its average volume of 17,563,930. The stock's fifty day moving average price is $18.18 and its 200 day moving average price is $18.47. Energy Transfer LP has a fifty-two week low of $14.60 and a fifty-two week high of $21.45. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.12 and a quick ratio of 0.88. The firm has a market capitalization of $58.28 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 0.64 and a beta of 1.32.

Energy Transfer (NYSE:ET - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The pipeline company reported $0.29 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.06). Energy Transfer had a net margin of 5.74% and a return on equity of 11.56%. As a group, equities research analysts predict that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Friday, February 7th were given a dividend of $0.325 per share. This is a positive change from Energy Transfer's previous quarterly dividend of $0.32. This represents a $1.30 annualized dividend and a yield of 7.65%. The ex-dividend date of this dividend was Friday, February 7th. Energy Transfer's dividend payout ratio is presently 101.56%.

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.