Carroll Financial Associates Inc. purchased a new stake in shares of Energy Transfer LP Unit (NYSE:ET) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 17,417 shares of the pipeline company’s stock, valued at approximately $245,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ET. Colorado Capital Management Inc. acquired a new position in Energy Transfer LP Unit during the 1st quarter valued at about $209,000. SeaBridge Investment Advisors LLC acquired a new stake in shares of Energy Transfer LP Unit in the 1st quarter valued at approximately $257,000. UMB Bank N A MO acquired a new stake in shares of Energy Transfer LP Unit in the 1st quarter valued at approximately $1,771,000. Heronetta Management L.P. acquired a new stake in shares of Energy Transfer LP Unit in the 1st quarter valued at approximately $20,824,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Energy Transfer LP Unit in the 1st quarter valued at approximately $5,657,000. 57.41% of the stock is owned by institutional investors and hedge funds.
ET stock traded up $0.38 during midday trading on Friday, reaching $13.47. The company had a trading volume of 11,339,400 shares, compared to its average volume of 11,640,777. The company has a market capitalization of $34.47 billion, a price-to-earnings ratio of 11.71 and a beta of 1.54. The stock has a 50 day moving average price of $14.35 and a 200-day moving average price of $14.78. Energy Transfer LP Unit has a 1-year low of $11.68 and a 1-year high of $18.38. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 0.81.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Tuesday, August 6th will be issued a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 9.06%. The ex-dividend date of this dividend is Monday, August 5th. Energy Transfer LP Unit’s dividend payout ratio (DPR) is currently 106.09%.
In other Energy Transfer LP Unit news, EVP Thomas P. Mason sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $13.97, for a total value of $1,047,750.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael K. Grimm purchased 3,888 shares of the company’s stock in a transaction on Friday, June 14th. The stock was acquired at an average cost of $14.14 per share, for a total transaction of $54,976.32. The disclosure for this purchase can be found here. Insiders own 3.28% of the company’s stock.
ET has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. ValuEngine raised shares of Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 17th. Raymond James reissued an “average” rating and issued a $19.00 target price on shares of Energy Transfer LP Unit in a research note on Friday, June 21st. Evercore ISI set a $18.00 price target on Energy Transfer LP Unit and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Piper Jaffray Companies initiated coverage on Energy Transfer LP Unit in a report on Wednesday, July 17th. They set an “overweight” rating and a $22.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $19.67.
About Energy Transfer LP Unit
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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