Monetary Management Group Inc. bought a new position in Energy Transfer LP Unit (NYSE:ET) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,760 shares of the pipeline company’s stock, valued at approximately $89,000.
Other hedge funds also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. acquired a new stake in Energy Transfer LP Unit in the 1st quarter valued at $1,417,810,000. OppenheimerFunds Inc. purchased a new stake in Energy Transfer LP Unit in the 1st quarter valued at about $938,384,000. Alps Advisors Inc. acquired a new position in Energy Transfer LP Unit in the 1st quarter valued at about $928,701,000. Kayne Anderson Capital Advisors LP acquired a new position in Energy Transfer LP Unit in the 1st quarter valued at about $660,951,000. Finally, CIBC Private Wealth Group LLC acquired a new position in Energy Transfer LP Unit in the 1st quarter valued at about $624,075,000. 57.11% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on ET shares. Zacks Investment Research downgraded Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. Raymond James raised Energy Transfer LP Unit from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, April 16th. Citigroup increased their price target on Energy Transfer LP Unit from $16.00 to $19.50 and gave the company a “buy” rating in a research note on Wednesday, May 8th. ValuEngine cut Energy Transfer LP Unit from a “hold” rating to a “sell” rating in a report on Monday, April 15th. Finally, TheStreet upgraded Energy Transfer LP Unit from a “c+” rating to a “b” rating in a report on Thursday, February 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $19.25.
NYSE ET traded down $0.20 on Friday, hitting $14.12. The stock had a trading volume of 98,470 shares, compared to its average volume of 11,932,505. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.06 and a quick ratio of 0.81. The stock has a market capitalization of $37.16 billion, a PE ratio of 12.29 and a beta of 1.65. Energy Transfer LP Unit has a 52-week low of $11.68 and a 52-week high of $19.19.
Energy Transfer LP Unit (NYSE:ET) last posted its earnings results on Wednesday, May 8th. The pipeline company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The firm had revenue of $13.12 billion during 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 firm’s quarterly revenue was up 10.4% on a year-over-year basis. On average, research analysts anticipate that Energy Transfer LP Unit will post 1.4 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Tuesday, May 7th were issued a $0.305 dividend. This represents a $1.22 annualized dividend and a dividend yield of 8.64%. The ex-dividend date of this dividend was Monday, May 6th. Energy Transfer LP Unit’s dividend payout ratio (DPR) is presently 106.09%.
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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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