PFG Advisors Acquires 20,600 Shares of Energy Transfer LP Unit (NYSE:ET)

PFG Advisors boosted its holdings in Energy Transfer LP Unit (NYSE:ET) by 43.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,900 shares of the pipeline company’s stock after acquiring an additional 20,600 shares during the quarter. PFG Advisors’ holdings in Energy Transfer LP Unit were worth $999,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Homrich & Berg lifted its holdings in shares of Energy Transfer LP Unit by 21.8% during the 2nd quarter. Homrich & Berg now owns 61,381 shares of the pipeline company’s stock valued at $864,000 after buying an additional 10,966 shares during the period. Heritage Wealth Advisors lifted its holdings in shares of Energy Transfer LP Unit by 3.8% during the 2nd quarter. Heritage Wealth Advisors now owns 79,134 shares of the pipeline company’s stock valued at $1,114,000 after buying an additional 2,882 shares during the period. National Asset Management Inc. lifted its holdings in shares of Energy Transfer LP Unit by 20.8% during the 2nd quarter. National Asset Management Inc. now owns 40,700 shares of the pipeline company’s stock valued at $581,000 after buying an additional 6,999 shares during the period. FTB Advisors Inc. bought a new position in shares of Energy Transfer LP Unit during the 2nd quarter valued at $594,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Energy Transfer LP Unit by 64.4% during the 2nd quarter. Parallel Advisors LLC now owns 4,731 shares of the pipeline company’s stock valued at $67,000 after buying an additional 1,853 shares during the period. 56.13% of the stock is currently owned by institutional investors and hedge funds.

In other Energy Transfer LP Unit news, EVP Thomas P. Mason sold 75,000 shares of the stock in a transaction 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael K. Grimm purchased 3,888 shares of the business’s 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 disclosure for this purchase can be found here. Corporate insiders own 3.28% of the company’s stock.

ET stock traded down $0.06 during trading on Thursday, reaching $13.77. The company’s stock had a trading volume of 27,055 shares, compared to its average volume of 11,951,500. Energy Transfer LP Unit has a 1 year low of $11.68 and a 1 year high of $18.38. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 1.48. The company has a market capitalization of $36.28 billion, a P/E ratio of 12.04 and a beta of 1.54. The company’s fifty day moving average is $14.31 and its 200-day moving average is $14.75.

Energy Transfer LP Unit (NYSE:ET) last issued its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.03). Energy Transfer LP Unit had a return on equity of 9.10% and a net margin of 4.99%. The business had revenue of $13.88 billion during the quarter, compared to analysts’ expectations of $14.49 billion. The company’s revenue was down 1.7% on a year-over-year basis. Analysts anticipate that Energy Transfer LP Unit will post 1.45 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Tuesday, August 6th were paid a $0.305 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.22 dividend on an annualized basis and a yield of 8.86%. Energy Transfer LP Unit’s payout ratio is presently 106.09%.

Several equities research analysts have recently commented on ET shares. Raymond James restated an “average” rating and issued a $19.00 price objective on shares of Energy Transfer LP Unit in a research note on Friday, June 21st. Piper Jaffray Companies started coverage on Energy Transfer LP Unit in a research note on Wednesday, July 17th. They issued an “overweight” rating and a $22.00 price objective for the company. Citigroup set a $20.00 price objective on Energy Transfer LP Unit and gave the stock a “buy” rating in a research note on Monday, August 12th. Evercore ISI set a $18.00 price objective on Energy Transfer LP Unit and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, ValuEngine upgraded Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $19.67.

Energy Transfer LP Unit 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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Institutional Ownership by Quarter for Energy Transfer LP Unit (NYSE:ET)

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