V Wealth Advisors LLC lifted its position in Energy Transfer LP Unit (NYSE:ET) by 23.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,414 shares of the pipeline company’s stock after purchasing an additional 3,444 shares during the quarter. V Wealth Advisors LLC’s holdings in Energy Transfer LP Unit were worth $258,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of ET. Focused Wealth Management Inc purchased a new position in shares of Energy Transfer LP Unit in the 1st quarter worth about $25,000. OLD Second National Bank of Aurora purchased a new position in shares of Energy Transfer LP Unit in the 2nd quarter worth about $27,000. Meridian Wealth Management LLC purchased a new position in shares of Energy Transfer LP Unit in the 1st quarter worth about $28,000. Rocky Mountain Advisers LLC purchased a new position in shares of Energy Transfer LP Unit in the 2nd quarter worth about $28,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Energy Transfer LP Unit in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 56.94% of the company’s stock.
ET has been the subject of a number of research reports. Evercore ISI set a $18.00 price objective on Energy Transfer LP Unit and gave the stock a “buy” rating in a report on Wednesday. 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. Zacks Investment Research cut Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Wells Fargo & Co upped their price objective on Energy Transfer LP Unit from $21.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday. Finally, ValuEngine upgraded Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $19.61.
Energy Transfer LP Unit (NYSE:ET) last released its earnings results on Wednesday, August 7th. The pipeline company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Energy Transfer LP Unit had a net margin of 4.99% and a return on equity of 9.18%. The company had revenue of $13.88 billion during the quarter, compared to the consensus estimate of $14.49 billion. Energy Transfer LP Unit’s revenue was down 1.7% on a year-over-year basis. As a group, research analysts anticipate that Energy Transfer LP Unit will post 1.42 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Stockholders of record on Tuesday, August 6th will be paid a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 8.78%. The ex-dividend date of this dividend is Monday, August 5th. Energy Transfer LP Unit’s dividend payout ratio (DPR) is presently 106.09%.
In other Energy Transfer LP Unit news, Director Michael K. Grimm purchased 3,888 shares of the stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $14.14 per share, with a total value of $54,976.32. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Thomas P. Mason sold 75,000 shares of the company’s stock in a transaction that occurred on 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. Insiders own 3.28% of the company’s stock.
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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