Signaturefd LLC cut its position in Energy Transfer LP Unit (NYSE:ET) by 45.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,525 shares of the pipeline company’s stock after selling 19,304 shares during the quarter. Signaturefd LLC’s holdings in Energy Transfer LP Unit were worth $331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of ET. Focused Wealth Management Inc purchased a new stake in Energy Transfer LP Unit in the 1st quarter worth approximately $25,000. OLD Second National Bank of Aurora purchased a new stake in shares of Energy Transfer LP Unit during the 2nd quarter valued at $27,000. First Personal Financial Services purchased a new stake in shares of Energy Transfer LP Unit during the 2nd quarter valued at $27,000. Meridian Wealth Management LLC purchased a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at $28,000. Finally, Rocky Mountain Advisers LLC purchased a new stake in shares of Energy Transfer LP Unit during the 2nd quarter valued at $28,000. Institutional investors and hedge funds own 57.41% of the company’s stock.
ET has been the topic of several research reports. ValuEngine upgraded shares of Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 17th. Wells Fargo & Co increased their target price on shares of Energy Transfer LP Unit from $21.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Piper Jaffray Companies assumed coverage on shares of Energy Transfer LP Unit in a report on Wednesday, July 17th. They set an “overweight” rating and a $22.00 target price on the stock. Evercore ISI set a $18.00 target price on shares of Energy Transfer LP Unit and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Zacks Investment Research lowered shares of Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.61.
Shares of ET stock traded down $0.42 on Wednesday, hitting $13.09. 407,438 shares of the company’s stock traded hands, compared to its average volume of 10,680,557. The company has a quick ratio of 0.81, a current ratio of 1.06 and a debt-to-equity ratio of 1.52. Energy Transfer LP Unit has a one year low of $11.68 and a one year high of $18.38. The firm’s fifty day moving average is $14.41. The stock has a market cap of $35.05 billion, a PE ratio of 11.39 and a beta of 1.54.
Energy Transfer LP Unit (NYSE:ET) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.03). Energy Transfer LP Unit had a net margin of 4.99% and a return on equity of 9.18%. The business had revenue of $13.88 billion for the quarter, compared to the consensus estimate of $14.49 billion. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts anticipate that Energy Transfer LP Unit will post 1.42 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Tuesday, August 6th will be issued a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a yield of 9.32%. The ex-dividend date of this dividend is Monday, August 5th. Energy Transfer LP Unit’s dividend payout ratio (DPR) is presently 106.09%.
In other Energy Transfer LP Unit news, EVP Thomas P. Mason sold 75,000 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael K. Grimm bought 3,888 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were 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. 3.28% of the stock is owned by company insiders.
About Energy Transfer LP Unit
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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