Callodine Capital Management LP increased its position in Energy Transfer LP (NYSE:ET – Free Report) by 18.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,875,000 shares of the pipeline company’s stock after buying an additional 290,000 shares during the period. Energy Transfer accounts for 2.5% of Callodine Capital Management LP’s portfolio, making the stock its 15th largest holding. Callodine Capital Management LP owned 0.05% of Energy Transfer worth $36,188,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in ET. Keybank National Association OH lifted its stake in Energy Transfer by 0.3% in the first quarter. Keybank National Association OH now owns 219,232 shares of the pipeline company’s stock valued at $4,231,000 after acquiring an additional 556 shares during the last quarter. Mountain Capital Investment Advisors Inc. increased its stake in shares of Energy Transfer by 4.9% during the 4th quarter. Mountain Capital Investment Advisors Inc. now owns 12,007 shares of the pipeline company’s stock worth $216,000 after purchasing an additional 560 shares during the last quarter. Marks Wealth LLC raised its holdings in shares of Energy Transfer by 4.7% during the 4th quarter. Marks Wealth LLC now owns 12,560 shares of the pipeline company’s stock valued at $207,000 after purchasing an additional 560 shares in the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of Energy Transfer by 2.4% during the 1st quarter. Citizens Financial Group Inc. RI now owns 23,978 shares of the pipeline company’s stock valued at $463,000 after purchasing an additional 562 shares in the last quarter. Finally, Avos Capital Management LLC lifted its stake in shares of Energy Transfer by 0.8% in the 4th quarter. Avos Capital Management LLC now owns 76,695 shares of the pipeline company’s stock valued at $1,265,000 after purchasing an additional 583 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.
Key Energy Transfer News
Here are the key news stories impacting Energy Transfer this week:
- Positive Sentiment: ET was featured as a low-beta stock that can help reduce portfolio risk, with stable fee-based revenues and growth projects supporting its defensive appeal. 3 Low-Beta Stocks to Minimize Portfolio Risk: LQDA, ET & PBF
- Positive Sentiment: Analysts and market commentary say Energy Transfer may be undervalued after raising EBITDA guidance, which could support the stock’s upside potential. Energy Transfer (ET) Could Be 13% Undervalued Following Raised EBITDA Guidance
- Positive Sentiment: The company affirmed its income appeal by announcing a quarterly cash distribution on Series I preferred units, signaling continued cash returns to investors. Energy Transfer LP Announces Cash Distribution on Series I Preferred Units
- Positive Sentiment: ET is being highlighted as a high-yield stock with strong analyst support and room to run, reinforcing investor interest in the name. 5 High-Yield Stocks With Analyst Support and Room to Run
- Neutral Sentiment: Several articles note that Zacks users have been searching for ET more frequently, suggesting rising attention but not a clear fundamental catalyst. Energy Transfer LP (ET) is Attracting Investor Attention: Here is What You Should Know
- Neutral Sentiment: ET was also mentioned in broader industry pieces on pipeline MLPs and dividend stocks, which support the bullish case but do not add a company-specific catalyst. 3 Oil Pipeline MLP Stocks Riding on Favorable Industry Trends
Wall Street Analyst Weigh In
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Energy Transfer Stock Performance
NYSE:ET opened at $20.38 on Friday. Energy Transfer LP has a 1 year low of $16.18 and a 1 year high of $20.70. The firm’s fifty day simple moving average is $19.55 and its 200 day simple moving average is $18.97. The company has a current ratio of 1.17, a quick ratio of 0.93 and a debt-to-equity ratio of 1.50. The firm has a market capitalization of $70.11 billion, a PE ratio of 16.98, a PEG ratio of 1.18 and a beta of 0.55.
Energy Transfer (NYSE:ET – Get Free Report) last announced its earnings results on Tuesday, May 5th. The pipeline company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.05). The firm had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $25.78 billion. Energy Transfer had a return on equity of 9.77% and a net margin of 4.66%.The business’s revenue was up 32.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.36 EPS. On average, sell-side analysts anticipate that Energy Transfer LP will post 1.43 EPS for the current year.
Energy Transfer Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a $0.3375 dividend. The ex-dividend date was Friday, May 8th. This is a boost from Energy Transfer’s previous quarterly dividend of $0.34. This represents a $1.35 dividend on an annualized basis and a dividend yield of 6.6%. Energy Transfer’s dividend payout ratio is presently 112.50%.
Energy Transfer Company Profile
Energy Transfer (NYSE: ET) is a Dallas-based midstream energy company that develops and operates infrastructure for the transportation, storage and processing of hydrocarbons. The company’s operations focus on moving and storing natural gas, natural gas liquids (NGLs), crude oil and refined products through an integrated network of pipelines, terminals, storage facilities and processing plants. Energy Transfer provides core midstream services such as gathering, compression, fractionation, processing, and bulk transportation to support production and downstream supply chains.
Its asset base spans an extensive network across the United States, connecting producing regions, processing centers, petrochemical hubs and coastal and inland markets.
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