Energy Transfer LP $ET Shares Purchased by Callodine Capital Management LP

Callodine Capital Management LP boosted its holdings in shares of Energy Transfer LP (NYSE:ET) by 56.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,035,000 shares of the pipeline company’s stock after buying an additional 375,000 shares during the quarter. Energy Transfer accounts for 1.9% of Callodine Capital Management LP’s investment portfolio, making the stock its 22nd largest position. Callodine Capital Management LP’s holdings in Energy Transfer were worth $18,765,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ET. Chelsea Counsel Co. boosted its stake in shares of Energy Transfer by 370.3% in the 2nd quarter. Chelsea Counsel Co. now owns 94,050 shares of the pipeline company’s stock valued at $1,705,000 after buying an additional 74,050 shares during the period. Ariston Services Group increased its stake in shares of Energy Transfer by 126.7% during the second quarter. Ariston Services Group now owns 100,683 shares of the pipeline company’s stock worth $1,825,000 after buying an additional 56,274 shares during the period. Highland Capital Management LLC acquired a new stake in Energy Transfer in the second quarter valued at approximately $930,000. Focus Partners Wealth lifted its stake in Energy Transfer by 11.9% in the first quarter. Focus Partners Wealth now owns 275,698 shares of the pipeline company’s stock worth $5,125,000 after acquiring an additional 29,404 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Energy Transfer by 223.5% in the first quarter. Northern Trust Corp now owns 1,069,534 shares of the pipeline company’s stock worth $19,883,000 after acquiring an additional 738,885 shares during the last quarter. Hedge funds and other institutional investors own 38.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. UBS Group reissued a “buy” rating and issued a $22.00 price objective on shares of Energy Transfer in a research report on Wednesday, October 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Energy Transfer in a report on Wednesday, October 8th. Barclays restated an “overweight” rating and issued a $25.00 price target on shares of Energy Transfer in a research note on Wednesday, October 15th. Morgan Stanley decreased their price target on Energy Transfer from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Tuesday, December 2nd. Finally, Scotiabank dropped their price objective on Energy Transfer from $23.00 to $21.00 and set a “sector outperform” rating on the stock in a report on Thursday, November 13th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.62.

Energy Transfer Price Performance

Shares of ET opened at $16.78 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.41 and a quick ratio of 1.14. Energy Transfer LP has a 1-year low of $14.60 and a 1-year high of $21.45. The stock has a market cap of $57.61 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 1.01 and a beta of 0.65. The firm has a fifty day moving average price of $16.74 and a 200 day moving average price of $17.33.

Energy Transfer (NYSE:ET) last posted its earnings results on Wednesday, November 5th. The pipeline company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.06). Energy Transfer had a return on equity of 10.71% and a net margin of 5.66%.The firm had revenue of $19.95 billion for the quarter, compared to analyst estimates of $21.84 billion. During the same quarter last year, the firm posted $0.32 EPS. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Energy Transfer LP will post 1.46 EPS for the current year.

Energy Transfer Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Shareholders of record on Friday, November 7th were paid a $0.3325 dividend. This is an increase from Energy Transfer’s previous quarterly dividend of $0.33. This represents a $1.33 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date was Friday, November 7th. Energy Transfer’s dividend payout ratio (DPR) is presently 106.40%.

Insider Buying and Selling at Energy Transfer

In other Energy Transfer news, Director Kelcy L. Warren bought 1,000,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were acquired at an average cost of $16.95 per share, for a total transaction of $16,950,000.00. Following the completion of the transaction, the director owned 104,577,803 shares in the company, valued at approximately $1,772,593,760.85. The trade was a 0.97% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.28% of the company’s stock.

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.