Neville Rodie & Shaw Inc. reduced its stake in Energy Transfer LP Unit (NYSE:ET) by 3.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 36,752 shares of the pipeline company’s stock after selling 1,217 shares during the quarter. Neville Rodie & Shaw Inc.’s holdings in Energy Transfer LP Unit were worth $472,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of ET. Pathstone Family Office LLC acquired a new position in shares of Energy Transfer LP Unit in the second quarter valued at $28,000. Prestige Wealth Management Group LLC bought a new stake in Energy Transfer LP Unit in the second quarter valued at $31,000. First Interstate Bank grew its position in Energy Transfer LP Unit by 607.6% in the third quarter. First Interstate Bank now owns 2,236 shares of the pipeline company’s stock valued at $29,000 after acquiring an additional 1,920 shares during the period. Toth Financial Advisory Corp grew its position in Energy Transfer LP Unit by 65.6% in the third quarter. Toth Financial Advisory Corp now owns 2,521 shares of the pipeline company’s stock valued at $33,000 after acquiring an additional 999 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. grew its position in Energy Transfer LP Unit by 47.1% in the second quarter. Global Wealth Management Investment Advisory Inc. now owns 3,219 shares of the pipeline company’s stock valued at $45,000 after acquiring an additional 1,031 shares during the period. Hedge funds and other institutional investors own 53.44% of the company’s stock.
Shares of NYSE ET traded up $0.01 during mid-day trading on Thursday, reaching $13.60. 126,430 shares of the company’s stock were exchanged, compared to its average volume of 13,314,964. The company has a current ratio of 1.00, a quick ratio of 0.75 and a debt-to-equity ratio of 1.49. Energy Transfer LP Unit has a twelve month low of $10.84 and a twelve month high of $15.98. The business has a fifty day simple moving average of $12.70 and a 200 day simple moving average of $13.19. The firm has a market capitalization of $35.62 billion, a price-to-earnings ratio of 11.82 and a beta of 1.51.
Energy Transfer LP Unit (NYSE:ET) last issued its earnings results on Wednesday, November 6th. The pipeline company reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.05). The business had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $14.54 billion. Energy Transfer LP Unit had a return on equity of 10.93% and a net margin of 5.94%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Equities research analysts predict that Energy Transfer LP Unit will post 1.41 earnings per share for the current fiscal year.
In related news, CEO Kelcy L. Warren acquired 3,969,224 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was purchased at an average cost of $11.72 per share, with a total value of $46,519,305.28. Also, CFO Thomas E. Long acquired 18,000 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was bought at an average cost of $11.15 per share, with a total value of $200,700.00. Following the completion of the acquisition, the chief financial officer now directly owns 517,698 shares in the company, valued at $5,772,332.70. The disclosure for this purchase can be found here. Insiders acquired a total of 4,087,224 shares of company stock valued at $47,999,005 over the last ninety days. Insiders own 3.28% of the company’s stock.
Several analysts have recently commented on the company. TheStreet cut Energy Transfer LP Unit from a “b-” rating to a “c+” rating in a report on Monday, October 21st. Robert W. Baird decreased their target price on Energy Transfer LP Unit from $21.00 to $18.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Morgan Stanley assumed coverage on Energy Transfer LP Unit in a report on Monday, January 6th. They set an “overweight” rating and a $18.00 target price on the stock. Bank of America increased their target price on Energy Transfer LP Unit from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Energy Transfer LP Unit in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $19.40.
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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