Quad Cities Investment Group LLC purchased a new stake in Energy Transfer LP Unit (NYSE:ET) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 27,350 shares of the pipeline company’s stock, valued at approximately $384,000.
A number of other large investors have also recently made changes to their positions in ET. Round Table Services LLC purchased a new stake in shares of Energy Transfer LP Unit in the second quarter worth $174,000. Beach Investment Management LLC. increased its position in Energy Transfer LP Unit by 45.8% in the 2nd quarter. Beach Investment Management LLC. now owns 207,290 shares of the pipeline company’s stock worth $2,919,000 after purchasing an additional 65,130 shares during the last quarter. Beach Investment Counsel Inc. PA increased its position in Energy Transfer LP Unit by 2.6% in the 2nd quarter. Beach Investment Counsel Inc. PA now owns 2,897,754 shares of the pipeline company’s stock worth $40,800,000 after purchasing an additional 72,600 shares during the last quarter. Miller Howard Investments Inc. NY acquired a new position in Energy Transfer LP Unit in the 2nd quarter worth about $105,227,000. Finally, MHI Funds LLC acquired a new position in Energy Transfer LP Unit in the 2nd quarter worth about $250,000. 56.96% of the stock is owned by hedge funds and other institutional investors.
Shares of ET traded up $0.01 during trading hours on Friday, hitting $14.83. 125,037 shares of the company were exchanged, compared to its average volume of 8,044,969. The company has a market capitalization of $38.86 billion, a P/E ratio of 12.89 and a beta of 1.55. The company’s 50 day simple moving average is $14.47. Energy Transfer LP Unit has a 52 week low of $11.68 and a 52 week high of $19.19. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.81 and a current ratio of 1.06.
Energy Transfer LP Unit (NYSE:ET) last released its quarterly earnings results 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. The company had revenue of $13.12 billion during 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 for the quarter was up 10.4% on a year-over-year basis. On average, equities analysts expect that Energy Transfer LP Unit will post 1.42 earnings per share for the current year.
In other news, EVP Thomas P. Mason sold 75,000 shares of the company’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael K. Grimm purchased 3,888 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were bought at an average price of $14.14 per share, with a total value of $54,976.32. The disclosure for this purchase can be found here. Corporate insiders own 3.28% of the company’s stock.
Several research analysts have weighed in on ET shares. Zacks Investment Research lowered Hallmark Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday. Citigroup set a $86.00 target price on Prologis and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Raymond James set a $29.00 target price on Seacoast Banking Co. of Florida and gave the stock a “buy” rating in a research report on Friday, June 21st. ValuEngine lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Piper Jaffray Companies dropped their target price on Inovio Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $19.50.
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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