Adell Harriman & Carpenter Inc. acquired a new stake in shares of Energy Transfer LP Unit (NYSE:ET) during the first quarter, Holdings Channel reports. The fund acquired 231,569 shares of the pipeline company’s stock, valued at approximately $3,559,000.
A number of other institutional investors also recently modified their holdings of ET. Alps Advisors Inc. purchased a new position in Energy Transfer LP Unit during the 1st quarter valued at $928,701,000. Kayne Anderson Capital Advisors LP bought a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at $660,951,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at $375,265,000. Comerica Bank bought a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at $272,318,000. Finally, California Public Employees Retirement System bought a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at $58,428,000. 56.50% of the stock is currently owned by institutional investors and hedge funds.
ET has been the topic of a number of research reports. Evercore ISI initiated coverage on shares of Energy Transfer LP Unit in a report on Tuesday, February 5th. They set an “outperform” rating on the stock. Zacks Investment Research cut shares of Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Friday, April 26th. ValuEngine upgraded shares of Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a report on Monday, February 4th. TheStreet upgraded shares of Energy Transfer LP Unit from a “c+” rating to a “b” rating in a report on Thursday, February 21st. Finally, Stifel Nicolaus restated a “buy” rating and set a $20.00 target price on shares of Energy Transfer LP Unit in a report on Thursday, February 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $19.25.
Shares of ET stock opened at $14.94 on Thursday. Energy Transfer LP Unit has a 12 month low of $11.68 and a 12 month high of $19.19. The firm has a market cap of $38.83 billion, a PE ratio of 12.99 and a beta of 1.71. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 1.52.
Energy Transfer LP Unit (NYSE:ET) last announced its earnings results on Wednesday, May 8th. The pipeline company reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.01. The firm had revenue of $13.12 billion for the quarter, compared to analysts’ expectations of $14.39 billion. Energy Transfer LP Unit had a net margin of 4.03% and a return on equity of 7.61%. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. As a group, analysts expect that Energy Transfer LP Unit will post 1.42 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Tuesday, May 7th will be paid a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 8.17%. The ex-dividend date is Monday, May 6th. Energy Transfer LP Unit’s payout ratio is 106.09%.
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Energy Transfer LP Unit Company 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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