Round Table Services LLC purchased a new position in shares of Energy Transfer LP Unit (NYSE:ET) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 12,326 shares of the pipeline company’s stock, valued at approximately $174,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ET. Tortoise Capital Advisors L.L.C. bought a new stake in Energy Transfer LP Unit during the 1st quarter worth approximately $1,417,810,000. OppenheimerFunds Inc. bought a new position in Energy Transfer LP Unit in the 1st quarter valued at $938,384,000. Alps Advisors Inc. bought a new position in Energy Transfer LP Unit in the 1st quarter valued at $928,701,000. Kayne Anderson Capital Advisors LP bought a new position in Energy Transfer LP Unit in the 1st quarter valued at $660,951,000. Finally, CIBC Private Wealth Group LLC bought a new position in Energy Transfer LP Unit in the 1st quarter valued at $624,075,000. Institutional investors and hedge funds own 56.96% of the company’s stock.
In other news, Director Michael K. Grimm purchased 3,888 shares of the company’s stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas P. Mason sold 75,000 shares of Energy Transfer LP Unit stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $13.97, for a total value of $1,047,750.00. The disclosure for this sale can be found here. Company insiders own 3.28% of the company’s stock.
ET has been the topic of a number of analyst reports. ValuEngine downgraded 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 Seacoast Banking Co. of Florida and gave the company a “buy” rating in a research note on Friday, June 21st. Piper Jaffray Companies cut their price target on Inovio Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Citigroup set a $86.00 price target on Prologis and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Zacks Investment Research downgraded Hallmark Financial Services from a “buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Energy Transfer LP Unit has a consensus rating of “Buy” and an average price target of $19.50.
Energy Transfer LP Unit stock traded up $0.01 during mid-day trading on Friday, hitting $14.83. 2,031,019 shares of the company’s stock were exchanged, compared to its average volume of 8,044,969. The firm has a market capitalization of $38.86 billion, a price-to-earnings ratio of 12.90 and a beta of 1.55. Energy Transfer LP Unit has a fifty-two week low of $11.68 and a fifty-two week high of $19.19. The company has a quick ratio of 0.81, a current ratio of 1.06 and a debt-to-equity ratio of 1.52. The company has a 50 day moving average price of $14.47.
Energy Transfer LP Unit (NYSE:ET) last issued its quarterly earnings data 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 business had revenue of $13.12 billion for the quarter, compared to the consensus estimate of $14.39 billion. Energy Transfer LP Unit had a return on equity of 7.61% and a net margin of 4.03%. The company’s revenue was up 10.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Energy Transfer LP Unit will post 1.42 earnings per share for the current fiscal year.
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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