Good Life Advisors LLC acquired a new stake in shares of Energy Transfer LP Unit (NYSE:ET) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 10,695 shares of the pipeline company’s stock, valued at approximately $162,000.
Several other hedge funds have also recently made changes to their positions in ET. Focused Wealth Management Inc bought a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at $25,000. Global Retirement Partners LLC bought a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at $32,000. Shamrock Asset Management LLC bought a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at $36,000. First Interstate Bank bought a new stake in shares of Energy Transfer LP Unit during the 1st quarter valued at $44,000. Finally, Parallel Advisors LLC bought a new stake in Energy Transfer LP Unit in the 1st quarter valued at $44,000. Hedge funds and other institutional investors own 55.58% of the company’s stock.
A number of brokerages have issued reports on ET. Zacks Investment Research downgraded shares of Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Citigroup lifted their price target on shares of Energy Transfer LP Unit from $16.00 to $19.50 and gave the company a “buy” rating in a report on Wednesday, May 8th. Raymond James upgraded shares of Energy Transfer LP Unit from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, April 16th. ValuEngine downgraded shares of Energy Transfer LP Unit from a “hold” rating to a “sell” rating in a report on Monday, April 15th. Finally, TheStreet upgraded shares of Energy Transfer LP Unit from a “c+” rating to a “b” rating in a report on Thursday, February 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Energy Transfer LP Unit presently has an average rating of “Buy” and an average target price of $19.25.
Shares of NYSE ET opened at $14.60 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.81 and a current ratio of 1.06. The firm has a market capitalization of $38.24 billion, a price-to-earnings ratio of 12.70 and a beta of 1.71. 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 announced its quarterly earnings results on Wednesday, May 8th. The pipeline company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company 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 firm’s quarterly revenue was up 10.4% on a year-over-year basis. On average, equities analysts forecast that Energy Transfer LP Unit will post 1.36 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Tuesday, May 7th were issued a $0.305 dividend. The ex-dividend date of this dividend was Monday, May 6th. This represents a $1.22 dividend on an annualized basis and a yield of 8.36%. Energy Transfer LP Unit’s dividend payout ratio is currently 106.09%.
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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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