Baystate Wealth Management LLC acquired a new stake in Energy Transfer LP Unit (NYSE:ET) during the second quarter, HoldingsChannel reports. The firm acquired 9,257 shares of the pipeline company’s stock, valued at approximately $131,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Focused Wealth Management Inc acquired a new position in Energy Transfer LP Unit in the first quarter valued at $25,000. Meridian Wealth Management LLC acquired a new position in shares of Energy Transfer LP Unit during the first quarter worth about $28,000. Global Retirement Partners LLC acquired a new position in shares of Energy Transfer LP Unit during the first quarter worth about $32,000. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of Energy Transfer LP Unit during the first quarter worth about $34,000. Finally, Shamrock Asset Management LLC acquired a new position in shares of Energy Transfer LP Unit during the first quarter worth about $36,000. Institutional investors own 56.96% of the company’s stock.
A number of research analysts have recently issued reports on ET shares. Zacks Investment Research upgraded shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Tuesday, July 16th. Piper Jaffray Companies dropped their price target on shares of Inovio Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. ValuEngine lowered shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Raymond James set a $29.00 price target on shares of Seacoast Banking Co. of Florida and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, Citigroup set a $86.00 price target on shares of Prologis and gave the stock a “buy” rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. Energy Transfer LP Unit has a consensus rating of “Buy” and a consensus price target of $19.50.
In related news, Director Michael K. Grimm acquired 3,888 shares of the firm’s stock in a transaction that occurred on 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, 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.
ET stock traded down $0.10 during trading on Tuesday, reaching $14.97. 5,420,978 shares of the company were exchanged, compared to its average volume of 10,528,100. The stock has a market cap of $39.51 billion, a P/E ratio of 13.02 and a beta of 1.56. Energy Transfer LP Unit has a 52-week low of $11.68 and a 52-week high of $19.19. The firm’s 50 day moving average is $14.42. The company has a current ratio of 1.06, a quick ratio of 0.81 and a debt-to-equity ratio of 1.52.
Energy Transfer LP Unit (NYSE:ET) last released its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $13.12 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 10.4% on a year-over-year basis. Equities analysts expect that Energy Transfer LP Unit will post 1.43 earnings per share for the current fiscal year.
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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