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

Catalyst Capital Advisors LLC raised its stake in Energy Transfer LP (NYSE:ET - Free Report) by 7.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,834,036 shares of the pipeline company's stock after acquiring an additional 128,053 shares during the quarter. Energy Transfer comprises approximately 0.7% of Catalyst Capital Advisors LLC's investment portfolio, making the stock its 26th biggest holding. Catalyst Capital Advisors LLC owned approximately 0.05% of Energy Transfer worth $29,436,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ET. Princeton Global Asset Management LLC grew its position in shares of Energy Transfer by 65.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,650 shares of the pipeline company's stock worth $26,000 after buying an additional 650 shares during the period. LRI Investments LLC acquired a new stake in shares of Energy Transfer during the 1st quarter worth approximately $29,000. HWG Holdings LP acquired a new stake in shares of Energy Transfer during the 2nd quarter worth approximately $33,000. Sugarloaf Wealth Management LLC grew its position in shares of Energy Transfer by 43.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 2,472 shares of the pipeline company's stock worth $40,000 after buying an additional 750 shares during the period. Finally, EdgeRock Capital LLC acquired a new stake in shares of Energy Transfer during the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 38.22% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ET shares. Royal Bank of Canada lifted their price target on shares of Energy Transfer from $19.00 to $20.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. UBS Group lifted their price objective on shares of Energy Transfer from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, September 18th. Finally, Bank of America started coverage on shares of Energy Transfer in a research note on Thursday, October 17th. They set a "buy" rating and a $20.00 price objective on the stock. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $20.00.

Energy Transfer Stock Up 2.3 %

ET traded up $0.38 during trading on Tuesday, reaching $16.89. The company had a trading volume of 25,397,367 shares, compared to its average volume of 13,060,324. The business's fifty day moving average price is $16.22 and its 200 day moving average price is $16.02. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.14 and a quick ratio of 0.92. The company has a market cap of $57.80 billion, a P/E ratio of 14.19, a PEG ratio of 0.50 and a beta of 1.66. Energy Transfer LP has a 12 month low of $13.01 and a 12 month high of $16.91.

Energy Transfer (NYSE:ET - Get Free Report) last announced its earnings results on Wednesday, August 7th. The pipeline company reported $0.35 EPS 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 in the previous year, the company posted $0.25 EPS. The business's revenue for the quarter was up 13.1% compared to the same quarter last year. Equities analysts anticipate that Energy Transfer LP will post 1.35 EPS for the current year.

Energy Transfer Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Friday, November 8th will be given a $0.3225 dividend. This represents a $1.29 annualized dividend and a dividend yield of 7.64%. The ex-dividend date is Friday, November 8th. Energy Transfer's payout ratio is presently 107.56%.

Insider Activity

In other Energy Transfer news, CEO Thomas E. Long purchased 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of $15.68 per share, with a total value of $313,600.00. Following the completion of the transaction, the chief executive officer now owns 4,308,859 shares in the company, valued at $67,562,909.12. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Kelcy L. Warren bought 3,000,000 shares of the company's stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average price of $15.68 per share, for a total transaction of $47,040,000.00. Following the transaction, the director now directly owns 123,385,650 shares of the company's stock, valued at approximately $1,934,686,992. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas E. Long acquired 20,000 shares of the stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $15.68 per share, for a total transaction of $313,600.00. Following the acquisition, the chief executive officer now owns 4,308,859 shares of the company's stock, valued at approximately $67,562,909.12. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 3,040,000 shares of company stock valued at $47,667,200 over the last ninety days. 3.28% of the stock is currently owned by company insiders.

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.