Strategic Wealth Partners Ltd. grew its stake in Energy Transfer LP Unit (NYSE:ET) by 4.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,058 shares of the pipeline company’s stock after purchasing an additional 1,206 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Energy Transfer LP Unit were worth $380,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in ET. Colorado Capital Management Inc. bought a new position in shares of Energy Transfer LP Unit in the 1st quarter valued at about $209,000. SeaBridge Investment Advisors LLC acquired a new stake in Energy Transfer LP Unit in the first quarter valued at approximately $257,000. UMB Bank N A MO acquired a new stake in Energy Transfer LP Unit in the first quarter valued at approximately $1,771,000. Heronetta Management L.P. acquired a new stake in Energy Transfer LP Unit in the first quarter valued at approximately $20,824,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Energy Transfer LP Unit in the first quarter valued at approximately $5,657,000. Institutional investors and hedge funds own 56.13% of the company’s stock.
ET has been the subject of several recent research reports. Wells Fargo & Co raised their target price on shares of Energy Transfer LP Unit from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Raymond James reissued an “average” rating and set a $19.00 target price on shares of Energy Transfer LP Unit in a research note on Friday, June 21st. Citigroup set a $20.00 price target on shares of Energy Transfer LP Unit and gave the stock a “buy” rating in a research report on Monday, August 12th. Zacks Investment Research lowered shares of Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, Piper Jaffray Companies assumed coverage on shares of Energy Transfer LP Unit in a research report on Wednesday, July 17th. They set an “overweight” rating and a $22.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $19.67.
In other news, EVP Thomas P. Mason sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $13.97, for a total value of $1,047,750.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael K. Grimm purchased 3,888 shares of Energy Transfer LP Unit stock in a transaction dated Friday, June 14th. The stock was bought at an average cost of $14.14 per share, for a total transaction of $54,976.32. The disclosure for this purchase can be found here. Insiders own 3.28% of the company’s stock.
NYSE:ET traded down $0.50 on Friday, hitting $13.18. The stock had a trading volume of 12,449,812 shares, compared to its average volume of 12,226,548. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. The stock has a market cap of $36.28 billion, a price-to-earnings ratio of 11.46 and a beta of 1.54. The company has a fifty day moving average price of $14.27 and a two-hundred day moving average price of $14.73. Energy Transfer LP Unit has a 1-year low of $11.68 and a 1-year high of $18.32.
Energy Transfer LP Unit (NYSE:ET) last posted its earnings results on Wednesday, August 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $13.88 billion during the quarter, compared to analyst estimates of $14.49 billion. Energy Transfer LP Unit had a net margin of 4.99% and a return on equity of 9.10%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, analysts anticipate that Energy Transfer LP Unit will post 1.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Tuesday, August 6th were issued a $0.305 dividend. The ex-dividend date was Monday, August 5th. This represents a $1.22 annualized dividend and a yield of 9.26%. Energy Transfer LP Unit’s payout ratio is 106.09%.
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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