Catalyst Capital Advisors LLC increased its stake in Energy Transfer LP Unit (NYSE:ET) by 6.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,086,376 shares of the pipeline company’s stock after acquiring an additional 65,451 shares during the period. Energy Transfer LP Unit comprises about 0.5% of Catalyst Capital Advisors LLC’s holdings, making the stock its 26th largest holding. Catalyst Capital Advisors LLC’s holdings in Energy Transfer LP Unit were worth $15,296,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. purchased a new stake in shares of Energy Transfer LP Unit in the 1st quarter worth approximately $1,417,810,000. Alps Advisors Inc. boosted its stake in Energy Transfer LP Unit by 2.8% during the 2nd quarter. Alps Advisors Inc. now owns 62,091,770 shares of the pipeline company’s stock valued at $874,252,000 after purchasing an additional 1,668,774 shares during the last quarter. OppenheimerFunds Inc. purchased a new stake in Energy Transfer LP Unit during the 1st quarter valued at $938,384,000. Kayne Anderson Capital Advisors LP purchased a new stake in Energy Transfer LP Unit during the 1st quarter valued at $660,951,000. Finally, CIBC Private Wealth Group LLC boosted its stake in Energy Transfer LP Unit by 2.0% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 41,416,746 shares of the pipeline company’s stock valued at $583,148,000 after purchasing an additional 813,260 shares during the last quarter. 57.70% of the stock is owned by institutional investors.
In other news, EVP Thomas P. Mason sold 75,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $13.97, for a total transaction of $1,047,750.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.28% of the stock is owned by insiders.
Energy Transfer LP Unit stock opened at $13.90 on Friday. The company has a market capitalization of $36.70 billion, a PE ratio of 12.09 and a beta of 1.51. Energy Transfer LP Unit has a fifty-two week low of $11.68 and a fifty-two week high of $18.17. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.83 and a current ratio of 1.12. The company has a 50 day moving average price of $13.76 and a 200-day moving average price of $14.60.
Energy Transfer LP Unit (NYSE:ET) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $13.88 billion during the quarter, compared to the consensus estimate of $14.49 billion. Energy Transfer LP Unit had a return on equity of 9.10% and a net margin of 4.99%. Energy Transfer LP Unit’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, analysts forecast that Energy Transfer LP Unit will post 1.39 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a dividend yield of 8.78%. The ex-dividend date was Monday, August 5th. Energy Transfer LP Unit’s dividend payout ratio (DPR) is presently 106.09%.
A number of research firms have recently issued reports on ET. Citigroup set a $20.00 price target on Energy Transfer LP Unit and gave the stock a “buy” rating in a research note on Monday, August 12th. Piper Jaffray Companies began coverage on Energy Transfer LP Unit in a report on Wednesday, July 17th. They set an “overweight” rating and a $22.00 price target on the stock. Evercore ISI set a $18.00 price target on Energy Transfer LP Unit and gave the company a “buy” rating in a report on Wednesday, August 7th. Wells Fargo & Co raised their price target on Energy Transfer LP Unit from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, ValuEngine lowered Energy Transfer LP Unit from a “sell” rating to a “strong sell” rating in a research report on Friday, September 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $19.44.
Energy Transfer LP Unit Profile
Energy Transfer LP provides energy-related services in the United States and China. The company owns and operates approximately 9,400 miles of natural gas transportation pipelines and three natural gas storage facilities in Texas; and approximately 12,200 miles of interstate natural gas pipelines. It sells natural gas to electric utilities, independent power plants, local distribution companies, industrial end-users, and other marketing companies.
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