On June 29, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a renowned investment firm, added 584,668 shares of First Trust MLP and Energy Income Fund (FEI, Financial) to its portfolio. This article provides an in-depth analysis of this transaction, the profiles of the guru and the traded company, and the stock's performance and valuation.
About Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio), located at 405 Lexington Avenue, New York, NY 10174, is a prominent investment firm with a portfolio of 762 stocks. The firm's equity stands at $5.24 billion, with a significant focus on the Financial Services and Technology sectors. Its top holdings include Templeton Global Income Fund (GIM, Financial), BlackRock Capital Allocation Trust (BCAT, Financial), BlackRock Health Sciences Trust II (BMEZ, Financial), BlackRock Innovation & Growth Tr(BIGZ, Financial), and BlackRock ESG Capital Allocation Trust(ECAT, Financial).
Transaction Details
The transaction saw Saba Capital Management, L.P. (Trades, Portfolio) add 584,668 shares of First Trust MLP and Energy Income Fund at a price of $7.69 per share. This move increased the firm's total holdings in the company to 2,879,072 shares, representing 0.42% of its portfolio and 6.37% of the traded company's stock. The transaction had a 0.09% impact on the guru's portfolio.
About First Trust MLP and Energy Income Fund
First Trust MLP and Energy Income Fund (FEI, Financial) is a non-diversified, closed-end management investment company based in the USA. The company, which went public on November 28, 2012, focuses on investing in publicly traded master limited partnerships (MLP) related entities, and other companies in the energy sector and energy utility industries. With a market capitalization of $349.168 million, the company's stock is currently trading at $7.72 per share, with a PE percentage of 13.38.
Stock Performance and Valuation
Since the transaction, the stock has gained 0.39%, while its year-to-date performance stands at 0.78%. However, since its IPO, the stock has declined by 61.3%. Unfortunately, due to insufficient data, the GF Valuation and the Price to GF Value cannot be evaluated.
Stock Rankings and Scores
The stock has a GF Score of 40, indicating poor future performance potential. Its balance sheet and profitability ranks are 4 and 3, respectively, while its momentum rank stands at 7. The stock has an F Score of 6, but its Z Score is not available due to insufficient data.
Stock Financials and Industry
First Trust MLP and Energy Income Fund operates in the Asset Management industry. The company's cash to debt ratio is 0.03, with a ROE of 6.36 and a ROA of 5.10. Over the past three years, the company has seen a revenue growth of 18.40% and an earnings growth of 25.70%.
Stock Momentum and Predictability
The stock's 5-day, 9-day, and 14-day RSI stand at 52.80, 52.94, and 52.47, respectively. Its 6 - 1 month momentum index is -2.29, while its 12 - 1 month momentum index is 2.67. Unfortunately, the stock's predictability rank is not available due to insufficient data.
This transaction by Saba Capital Management, L.P. (Trades, Portfolio) signifies a strong belief in the potential of First Trust MLP and Energy Income Fund. It will be interesting to see how this move impacts the guru's portfolio and the stock's performance in the future.
All data and rankings are accurate as of July 10, 2023.
