Loudon Investment Management LLC purchased a new stake in shares of Energy Transfer LP Unit (NYSE:ET) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 33,891 shares of the pipeline company’s stock, valued at approximately $521,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Focused Wealth Management Inc bought a new stake in shares of Energy Transfer LP Unit in the 1st quarter valued at approximately $25,000. Shamrock Asset Management LLC acquired a new position in shares of Energy Transfer LP Unit in the 1st quarter worth approximately $36,000. First Interstate Bank acquired a new position in shares of Energy Transfer LP Unit in the 1st quarter worth approximately $44,000. Parallel Advisors LLC acquired a new position in shares of Energy Transfer LP Unit in the 1st quarter worth approximately $44,000. Finally, Delta Asset Management LLC TN acquired a new position in shares of Energy Transfer LP Unit in the 1st quarter worth approximately $55,000. Hedge funds and other institutional investors own 56.50% of the company’s stock.
NYSE:ET traded up $0.09 during trading hours on Thursday, hitting $14.97. 1,883,491 shares of the stock were exchanged, compared to its average volume of 10,471,999. Energy Transfer LP Unit has a twelve month low of $11.68 and a twelve month high of $19.19. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.54 and a current ratio of 1.06. The company has a market cap of $38.83 billion, a price-to-earnings ratio of 13.02 and a beta of 1.71.
Energy Transfer LP Unit (NYSE:ET) last posted its quarterly earnings data on Wednesday, May 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. Energy Transfer LP Unit had a return on equity of 7.61% and a net margin of 4.03%. The firm had revenue of $13.12 billion for the quarter, compared to the consensus estimate of $14.39 billion. The company’s quarterly revenue was up 10.4% on a year-over-year basis. On average, equities analysts predict that Energy Transfer LP Unit will post 1.42 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Tuesday, May 7th will be paid a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 8.15%. The ex-dividend date of this dividend is Monday, May 6th. Energy Transfer LP Unit’s dividend payout ratio (DPR) is currently 106.09%.
Several research analysts have recently commented on ET shares. Evercore ISI started coverage on Energy Transfer LP Unit in a report on Tuesday, February 5th. They issued an “outperform” rating on the stock. ValuEngine raised Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a report on Monday, February 4th. Zacks Investment Research downgraded Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Wednesday. Raymond James raised Energy Transfer LP Unit from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, April 16th. Finally, Citigroup upped their price objective on Energy Transfer LP Unit from $16.00 to $19.50 and gave the stock a “buy” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $19.25.
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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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