Janney Montgomery Scott LLC raised its position in Energy Transfer LP Unit (NYSE:ET) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 369,824 shares of the pipeline company’s stock after purchasing an additional 1,785 shares during the period. Janney Montgomery Scott LLC’s holdings in Energy Transfer LP Unit were worth $5,207,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Westside Investment Management Inc. purchased a new stake in shares of Energy Transfer LP Unit during the 2nd quarter valued at $1,981,000. Focused Wealth Management Inc purchased a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at $25,000. Meridian Wealth Management LLC purchased a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at $28,000. First Personal Financial Services purchased a new stake in shares of Energy Transfer LP Unit during the 2nd quarter valued at $27,000. Finally, OLD Second National Bank of Aurora purchased a new position in Energy Transfer LP Unit in the 2nd quarter worth $27,000. 57.41% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Michael K. Grimm bought 3,888 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were purchased at an average price of $14.14 per share, with a total value of $54,976.32. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thomas P. Mason sold 75,000 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $13.97, for a total transaction of $1,047,750.00. The disclosure for this sale can be found here. 3.28% of the stock is currently owned by insiders.
Shares of NYSE:ET opened at $13.15 on Wednesday. The stock has a market cap of $35.05 billion, a PE ratio of 11.43 and a beta of 1.54. The stock has a fifty day simple moving average of $14.41. Energy Transfer LP Unit has a 52 week low of $11.68 and a 52 week high of $18.38. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.81 and a current ratio of 1.06.
Energy Transfer LP Unit (NYSE:ET) last released its quarterly earnings data on Wednesday, August 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $13.88 billion during the quarter, compared to analysts’ expectations of $14.49 billion. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, equities research analysts predict that Energy Transfer LP Unit will post 1.42 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Tuesday, August 6th will be given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 9.28%. The ex-dividend date of this dividend is Monday, August 5th. Energy Transfer LP Unit’s payout ratio is 106.09%.
A number of equities analysts recently commented on ET shares. Zacks Investment Research cut shares of Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Raymond James reiterated an “average” rating and issued a $19.00 target price on shares of Energy Transfer LP Unit in a research report on Friday, June 21st. 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. Piper Jaffray Companies started coverage on shares of Energy Transfer LP Unit in a research report on Wednesday, July 17th. They issued an “overweight” rating and a $22.00 target price on the stock. Finally, Citigroup lifted their target price on shares of Energy Transfer LP Unit from $16.00 to $19.50 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $19.61.
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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