SCP Investment LP Takes Position in Energy Transfer LP Unit (NYSE:ET)

SCP Investment LP acquired a new stake in Energy Transfer LP Unit (NYSE:ET) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 100,000 shares of the pipeline company’s stock, valued at approximately $1,408,000. Energy Transfer LP Unit makes up approximately 0.8% of SCP Investment LP’s investment portfolio, making the stock its 29th largest position.

Several other institutional investors have also made changes to their positions in the company. Colorado Capital Management Inc. bought a new stake in shares of Energy Transfer LP Unit in the 1st quarter valued at about $209,000. SeaBridge Investment Advisors LLC bought a new position in Energy Transfer LP Unit in the 1st quarter valued at about $257,000. UMB Bank N A MO bought a new position in Energy Transfer LP Unit in the 1st quarter valued at about $1,771,000. Heronetta Management L.P. bought a new position in Energy Transfer LP Unit in the 1st quarter valued at about $20,824,000. Finally, Janney Montgomery Scott LLC bought a new position in Energy Transfer LP Unit in the 1st quarter valued at about $5,657,000. 56.13% of the stock is owned by institutional investors.

In other news, Director Michael K. Grimm purchased 3,888 shares of Energy Transfer LP Unit stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average price of $14.14 per share, for a total transaction of $54,976.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Thomas P. Mason sold 75,000 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $13.97, for a total transaction of $1,047,750.00. The disclosure for this sale can be found here. Company insiders own 3.28% of the company’s stock.

Shares of NYSE ET traded up $0.02 during trading hours on Thursday, hitting $13.85. 2,084,261 shares of the stock were exchanged, compared to its average volume of 11,951,500. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.83 and a current ratio of 1.12. The company has a market cap of $36.28 billion, a PE ratio of 12.04 and a beta of 1.54. The company’s fifty day simple moving average is $14.31 and its two-hundred day simple moving average is $14.75. Energy Transfer LP Unit has a 1-year low of $11.68 and a 1-year high of $18.38.

Energy Transfer LP Unit (NYSE:ET) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.03). The firm had revenue of $13.88 billion for the quarter, compared to analyst estimates of $14.49 billion. Energy Transfer LP Unit had a return on equity of 9.10% and a net margin of 4.99%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, sell-side analysts expect that Energy Transfer LP Unit will post 1.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Tuesday, August 6th were given a dividend of $0.305 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $1.22 annualized dividend and a dividend yield of 8.81%. Energy Transfer LP Unit’s dividend payout ratio is 106.09%.

ET has been the topic of several research analyst reports. Citigroup set a $20.00 price target on shares of Energy Transfer LP Unit and gave the company a “buy” rating in a report on Monday, August 12th. ValuEngine raised shares of Energy Transfer LP Unit from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 17th. Evercore ISI set a $18.00 target price on shares of Energy Transfer LP Unit and gave the stock a “buy” rating in a report on Wednesday, August 7th. Raymond James reaffirmed an “average” rating and set a $19.00 target price on shares of Energy Transfer LP Unit in a report on Friday, June 21st. Finally, Zacks Investment Research cut shares of Energy Transfer LP Unit from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. 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 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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